Donald Trump blames Fed for slowing US growth
Consumers help GDP expansion come in higher than expected at 2.1% but business spending is a red flag
Washington — US economic growth slowed less than expected in the second quarter as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build, which could further allay concerns about the economy’s health.
But the fairly upbeat report from the commerce department on Friday had some red flags for the 10-year economic expansion, the longest on record. Business investment contracted for the first time in more than three years and housing declined for a sixth straight quarter.