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Economic Perspectives, 3, No. 1, 1977
Ahead: Another Year of Growth
As 1977 begins, the U.S. economy seems poised for a renewal of vigorous growth. The pause of the summer and fall may have prolonged the expansion by encouraging caution in decision making by businesses and consumers. Investments in inventories and capital goods have remained moderate. Consumers have increased spending sharply, but at a sustainable pace.


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