Analysts were expecting the economy to bounce to 2.6 percent growth in the second quarter, but those expectations were shattered this morning.
Government data show that the economy only grew by 1.2 percent in the second quarter.
First quarter growth was also revised down from 1.1 percent to 0.8 percent.
Hillary Clinton addressed the sluggish economy in her speech last night, admitting that Americans “feel like the economy just isn’t working.” Although she cited economic growth under president Obama, she insisted that “none of us can be satisfied with the status quo.”
“We will not build a wall,” she said. “Instead, we will build an economy where everyone who wants a good paying job can get one.”
Republican presidential nominee Donald Trump vowed to reform the economy in his nomination speech.
“On the economy, I will outline reforms to add millions of new jobs and trillions in new wealth that can be used to rebuild America,” he said, pointing out that special interests would oppose many of his reforms. “That’s because these interests have rigged our political and economic system for their exclusive benefit,” he said.