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The Conference Board Economics Watch® United States View

Growth is likely to remain near its long-term 2 percent trend through the end of the year. Labor market conditions and high consumer confidence should help spending recover from a disappointing first quarter. Business spending on capital equipment and confidence have both weakened considerably in recent months. A more deeply inverted yield curve signals expectations of a rate cut and slowing investment activity. A combination of rising costs and low inflation will place a drag on profits this year, perhaps reducing business investment appetites.

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