More signs of an economic lag are waving, as the U.S. Federal Reserve voted to hold its key interest rate near zero, despite repeated hints in recent months that it would boost it. The Fed's Open Market Committee said today that "growth in economic activity appears to have slowed."
In the U.S., economic growth faded to 1.4 percent in the fourth quarter, from 2.0 percent in the third quarter of last year. An advance estimate of U.S. first quarter performance is to be released Thursday morning.
The slowdown is true not only in the U.S. but worldwide as well. The International Monetary Fund (IMF) said "the global recovery continues to struggle to gain its footing," and growth in Latin America "is likely to contract for the second consecutive year in 2016."
In Britain, Gross Domestic Product (GDP) grew by just 0.4 percent in the first quarter, down from 0.6 percent in the final three months of 2015, according to government statistics. This comes amid fears that the UK will vote to leave the European Union.
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