WASHINGTON: The U.S. economy’s brief flirtation with 3% growth is over for now, Economists say, cut short by a dimming global outlook, market tremors and sluggish business investment.

Gross domestic product, or the total value of goods and services produced in the U.S., grew at a 2.6% annual rate in the fourth quarter, Economists estimate in a Wall Street Journal survey conducted recently. Output will grow at a 1.8% clip in the first quarter and a 2.5% rate in the second quarter, according to the poll.

That would average out to 2.3% growth for the nine-month period through this June — not bad, but slower than the 3% growth notched in the year through last September.

Economists believe a big slowdown in China’s economy and slower growth in Europe are holding back the U.S., reducing demand for American exports and making companies more reluctant to begin long-term projects.

“The economy is slowing but not enough to derail the expansion,” said Diane Swonk, Chief Economist at Grant Thornton. “The bad news is the straws on the camel’s back are really piling up and the back’s beginning to bend.”