US economy is now showing signs of slowing down. The factory expansion in the US experienced the slowest pace in May and according to the reports, the growth that has been at a fast pace at a 5.3% annual rate, is expected to slow down later this year.

The chief economist with fact & opinion economics said that the economy is mixed in different regions and the fed will not tighten its path due to the ongoing trend.

Federal Reserve officials expressed their concern regarding the ever-growing inflation pressures. However, they were still not sure of the amount of interest rates that need to rise from their present 5%.

The US labor department said that non-farm business productivity progressed at a revised 3.7% annual rate in the first three months of the year compared to an initially reported 3.2% increase.

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