mpc: 8
Potentially of wider significance was the incipient weakness in US non-residential investment.
That had fallen in Q4, and given the turndown in durables goods orders and shipments this year, also
looked likely to have declined in Q1. If so, it would represent the first consecutive quarterly declines
in non-residential investment for four years. The weakness looked puzzling given high levels of
capacity utilisation and the profit rate.
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