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:
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.: