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Future of U.S. Growth on Consumers’ Shoulders in Replay of 2015

  • Americans’ spending drives GDP as business investment falters
  • Latest data raise hopes that expansion will keep on rolling
Bloomberg business news
U.S. 2Q GDP Grew at 2.1%, Consumer Spending Tops Estimates
Updated on

They’ve carried the world’s largest economy through a tough patch before. History suggests American consumers could do it again.

Friday’s report on U.S. growth underscored how much the expansion -- which this month became the longest on record -- now largely relies on Americans staying happy and spending, while global weakness and President Donald Trump’s tariffs eat away at contributions from business investment.