The US economy suffered an abrupt slowdown over the past three months, with growth dropping to its weakest in more than three years as it succumbed to the toll from a slumping housing market.
Much worse than expected figures showed that US GDP grew at a modest annualised pace of just 1.6% in the third quarter.
That was sharply down from 2.6% in the previous three months and the scorching 5.6% pace set in the first quarter.
References: The Times Business 28/10/06 page 56, The Guardian 28/10/06 page 39, The Independent 28/10/06 page 54
