Portrait of a stumbling economy, at a glance
What a difference seven months make.
At the start of the year, economists were optimistic that growth would accelerate. Hiring was picking up, boosting incomes and giving consumers more spending power. The government had cut taxes at the end of 2010, putting more money in Americans' wallets.
But so far this year, the economy has weakened. It grew at an annual rate of just 0.8 percent in the first six months.
Gasoline prices spiked this spring, making it harder for consumers to spend more on other items. Manufacturing supplies were disrupted after Japan's earthquake. Economists are worried the weakness will persist.
The faltering economy can be seen in a range of indicators that have deteriorated since the second half of last year:
ECONOMY:
(Growth at an annual rate)
3.8 percent: April-June 2010
2.5 percent: July-Sept. 2010
2.3 percent: Oct.-Dec. 2010
0.4 percent: Jan.-March 2011
1.3 percent: April-June 2011
HIRING:
(Average monthly net job gains or losses)
-46,000: July-Sept. 2010
139,000: Oct.-Dec. 2010
166,000: Jan.-March 2011
87,000: April-June 2011
117,000: July 2011
CONSUMER SPENDING:
(Growth, annual rate)
2.6 percent, July-Sept. 2010
3.6 percent, Oct.-Dec. 2010
2.1 percent, Jan.-March 2011
0.1 percent, April-June 2011
AFTER-TAX PERSONAL INCOME:
(Growth, annual rate)
2.3 percent: July-Sept. 2010
1.5 percent: Oct.-Dec. 2010
0.7 percent: Jan.-March 2011
0.7 percent: April-June 2011
MANUFACTURING ACTIVITY:
(Institute for Supply Management index; a reading of 50 indicates expansion)
55.3: September 2010
58.5: December 2010
61.2: March 2011
55.3: June 2011
50.9: July 2011
HOME SALES:
(Sales of previously occupied homes)
4.9 million: 2008
5.2 million: 2009
4.9 million: 2010
4.8 million: Sales, annual pace, June 2011