(CNN)– Home Depot announced a slowdown in business, and it’s not a good sign for the economy.

The home improvement giant said sales at its stores open for at least one year rose just .2% last quarter.

It also cut its profit forecast for the year.

Home Depot is considered a bellwether for U.S. consumers and the housing market.

The company’s CEO attributed the slowdown to cautious consumers and a frozen housing market.

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