Reuters' Lucia Mutikani takes a look at economic data released this week that shows U.S. business investment plans falling for a second straight month, as consumer confidence also dropped. 

A Reuters survey also revealed that GDP for the 3Q would probably only grow at an annual rate of just 1.6%. And yet, housing has emerged as a beacon of hope, with home prices rising in August:

That should boost household wealth, supporting consumer spending and the broader economy, which has been buffeted by a strong dollar, weak global demand, spending cuts in the energy sector and efforts by businesses to reduce an inventory glut.

But this slowdown in business spending will likely add to the other data points tipping the Fed toward holding rates steady:

The continued weakness in business spending, together with signs of a slowdown in hiring by companies, could raise further doubts on whether the Federal Reserve will raise interest rates this year. The U.S. central bank's policy-setting committee was due to convene a two-day meeting on Tuesday.

Head over to Reuters to learn about the slowing economic growth in the U.S.:

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