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United States
Publication year - 2020
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 - 10.1111/1468-0319.12467
Subject(s) - economics , investment (military) , monetary economics , economic slowdown , capital (architecture) , international economics , macroeconomics , geography , political science , politics , law , archaeology
Real GDP growth held broadly steady at 2.1% (annualised) in Q3, following the slowdown to 2.0% in Q2, but this masked diverging trends across subsectors. Consumer spending grew a still‐strong 3.2%, while business investment contracted 2.3% — the first back‐to‐back fall in capital spending since 2016. Trade and inventories also dragged slightly on growth, while residential investment surprised somewhat on the upside with a 4.6% surge following six quarters of contraction.