Summary Box: Economy slows sharply in spring; more weakness expected

Summary Box: Economy loses speed in the spring

LOSING SPEED: Economic growth slowed to a 1.7 percent pace in the spring. That’s a notch higher than a previous estimate of 1.6 percent growth because consumers spent a bit more. But Americans still aren’t confident enough to ramp up spending, which is why the economy is weak.

MORE WEAKNESS AHEAD: The economy’s growth will be similarly weak through the rest of this year, analysts say.

WHY IT MATTERS: Unemployment will stay high. The economy isn’t growing fast enough to make businesses step up hiring.