Market to Market

Economic Outlook: August 31, 2019

Aug 30, 2019  | Ep4502

Despite a pick-up in the purchase of goods with long lives – airplanes, dishwashers and automobiles – fears of a recession continue to loom.

Orders for durable goods rose 2.1 percent last month.

Without the volatile transportation sector, orders fell O.4 percent.

However, consumer spending grew 0.6 percent in July as U.S. shoppers largely ignored increased prices brought on by the trade war.

Those who opened their wallets helped push 2nd quarter GDP to an annual growth rate of 2.1 percent.

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