NEW YORK (Reuters) - U.S. economic growth is expected to slow more sharply in the coming months than previously forecast with employers shedding staff into next year, according to a Philadelphia Federal Reserve survey released on Tuesday.Economists lowered their forecasts for third-quarter gross domestic product growth to a 1.2 percent annual rate from the previous 1.7 percent estimate, according to the bank's quarterly Survey of Professional Forecasters.
"Growth in U.S. real output over the next few quarters looks slower now than it did just three months ago," the Philadelphia Fed said on its Web site.
In the fourth quarter, the U.S. GDP growth forecast was slashed to 0.7 percent growth, from the previous 1.8 percent forecast.
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