Economists cut second-quarter U.S. jobs growth forecasts: Philly Fed survey

Economists cut their forecasts for U.S. economic growth in the second quarter and full year, and trimmed expectations for U.S. labor market gains. Economists see the economy growing at an annual rate of 2.5 percent in the current quarter, according to the Philadelphia Federal Reserve's quarterly survey of 44 forecasters, released on Friday. The pace of hiring was expected to decelerate in the current quarter compared with previous expectations, with an average rate of monthly nonfarm job gr