Consumer and Government Spending Trends
Consumer spending showed a mixed picture, with a rise in services expenditure, particularly in healthcare and financial services, being partly offset by a decrease in goods spending, especially in motor vehicles and energy products. On the government side, while state and local government spending increased, primarily due to higher employee compensation, federal government expenditure experienced a downturn, contributing to the overall deceleration in GDP growth.
Investment and Trade Trends
Investments showed divergent trends, with residential fixed investment accelerating, highlighted by growth in brokers’ commissions and new single-family housing constructions. Conversely, nonresidential investment saw notable increases in intellectual property products. The increase in imports, covering both goods and services, further weighed on the…
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