"If The Fool persists in his Folly he will become wise." - William Blake
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U.S. Economic Growth Cools on Biggest Trade Drag Since 2010
U.S. economic growth slowed more than forecast last quarter on the biggest drag from trade in six years and more moderate consumer spending. Business investment picked up, which may be a harbinger for faster expansion in 2017. Gross domestic product, the value of all goods and services produced, rose at a 1.9 percent annualized rate following the prior quarter’s 3.5 percent gain, Commerce Department data showed Friday in Washington. The median forecast in a Bloomberg survey called for 2.2 percent. Consumer spending, the biggest part of the economy, rose 2.5 percent, in line with projections. The results cap growth ... (full story)
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