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Business Investment Likely To Drop In ‘96

Business investment, a major driving force during the five-year economic expansion, is expected to drop this year to its slowest pace since the last recession.

The Commerce Department reported Thursday that a survey shows capital spending likely to increase just 1.5 percent, to $603.4 billion, far less than the gains of 8.1 percent in 1995 and 12.3 percent in 1994.

The survey suggested the manufacturing sector would account for 31 percent of planned spending and the service sector, 21 percent. But the poll also found spending declines were expected in half of the business categories.

Capital spending last fell in 1991, when the recession was ending.

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Trump says he may still meet with Kim Jong Un next month

UPDATED: 8:25 a.m.

updated  President Donald Trump on Friday warmly welcomed North Korea’s promising response to his abrupt withdrawal from the potentially historic Singapore summit and said “we’re talking to them now” about putting it back on track.