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The United States: a tale of two economies
Healthy Domestic Consumption Contrasts With Weaker Industrial Activity
While the U.S. has been a bright spot in the global economy, a wide divergence has emerged between consumption and industrial growth. The domestic economy is growing relatively well, as evidenced by retail sales and services, whereas the industrial economy has been held back by weak exports and low oil prices over the past couple of years. Both areas could improve if wage growth continues to accelerate and oil stabilizes in the range of $60 a barrel.
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