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U.S. consumer spending moderated and business investment continued to deteriorate at the end of 2019, while a smaller trade deficit and more home construction helped keep economic growth steady. GDP expanded at a 2.1% annualized rate for a second straight quarter, according to Commerce Department data. Consumer spending decelerated to a 1.8% pace, below projections and the weakest since the first quarter. Nonresidential business investment declined for a third straight period, the longest stretch since the last recession.

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