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U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses

Friday, 26 July 2019 19:44 WIB Ekonomi AS PDB AS GDP AS

U.S. economic growth slowed in the second quarter by less than forecast as consumer spending topped estimates, though weaker business investment and exports underscored the risks spurring the Federal Reserve toward an interest-rate cut next week. Gross domestic product expanded at a 2.1% percent annualized rate, according to Commerce Department data Friday that topped forecasts for 1.8%. That follows an unrevised 3.1% advance in first quarter and updated data showing growth last year was slower than previously reported. Consumer spending, the biggest part of the economy, increased 4.3%, while government spending climbed 5% and offered the biggest boost in a decade....

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