The economy probably slowed considerably in late summer to reflect a slumping housing market, a White House economic official said yesterday.
Allan Hubbard, director of the National Economic Council, predicted the pace of growth from July through September could range from 1 per cent to 2 per cent.
The government will release its first estimate of economic growth for the third quarter on October 27th.
The National Association for Business Economics is forecasting that the economy will expand at a 2.6 per cent rate in the third quarter. But other economists think the growth rate will be closer to 1 per cent, the low end of Mr Hubbard's prediction.
The Bush administration's observations on the economy come with the election season in full swing, and a day before the president was due to appear make a speech in Washington to promote his economic policies.
Voters' choices at the polls on November 7th are likely to be shaped in part by how they are faring economically; the administration says Americans are mostly better off, while Democrats disagree.
Mr Hubbard spoke of the "big choice" before voters on election day took aim at the Democrats: "For them to talk about that they are going to provide fiscal responsibility - more fiscal responsibility than the president - is absolutely ridiculous."