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United States
Publication year - 2019
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12452
Subject(s) - headline , economics , investment (military) , consumer spending , international economics , monetary economics , macroeconomics , business , advertising , political science , recession , law , politics
Real GDP growth cooled to 2.0% (annualised) in Q2, following a deceptively strong 3.1% advance in Q1, but the softer headline print masked diverging trends across subsectors. The 4.7% consumer spending splurge was the largest in almost five years. Meanwhile, residential and business investment contracted – the latter for the first time since 2016. But trade and inventories also dragged on growth by 0.7ppt and 0.9ppt, respectively.