WASHINGTON — The faltering U.S. job market has prompted economists to take a much dimmer view of the country’s growth prospects. That’s a shift from just a few weeks ago, when many were upgrading their forecasts.
Friday’s surprisingly bleak jobs report for May followed a spate of disappointing data. Manufacturing activity slowed, an index of home sales fell and consumer confidence tumbled. Mounting troubles in Europe and elsewhere have heightened economists’ concerns.
“The latest economic data have been decisively disappointing,” Michael Feroli, an economist at JPMorgan Chase, wrote in a client note.
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