the slow pace of economy increases
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The effects of slower economic growth could include: Slower increase in living standards – inequality maybecome more noticeable to those on lower incomes. Less tax revenue than expected to spend on public services.
Economic growth or decline is measured in terms of GDP. An economic slowdown occurs when the rate of growth in the GDP of an economy slows from the previous period. An economic slowdown is a natural part of the business cycle. However, it should not be confused with a recession, which involves an actual decline in GDP.
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