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November 29, 2019
WASHINGTON — The U.S. economy grew at a moderate 2.1% annual rate over the summer, slightly faster than first estimated, the government said Wednesday. But many economists say they think growth is slowing sharply in the current quarter.
The July-September growth rate in the gross domestic product, the economy's total output of goods and services, exceeded the Commerce Department's initial estimate of a 1.9% annual rate. A key reason is that businesses didn't cut back on investment spending as much as first estimated.
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