Growth in the world’s largest economy got off to a slower start in the fourth quarter as U.S. consumer spending, equipment orders and new-home sales were weaker than forecast in October.
Household purchases rose 0.2 percent, less than the projected 0.3 percent gain in a Bloomberg survey, while bookings for non-military capital goods excluding aircraft unexpectedly fell 1.3 percent for a second straight month, Commerce Department data showed today in Washington.
“The economy is still pretty resilient, but it’s a bit cautious out there,” said Sarah House, an economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “Some of these first October numbers put us off to a weaker start” in the current quarter.
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