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Resilient households

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US GDP growth slowed in Q4  Business investment and net export weigh on  The Fed sends a dovish signal US GDP growth markedly slowed in the final quarter of 2015: +0.7% versus 2% in Q3 (quarterly annualized rate). Households’ spending remains strong, but business cut on expenditures (investment and inventory building), while the global slowdown weighed on US exports. Details of the report, even if confirming the slowdown, provide a more nuanced diagnosis: final domestic demand
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