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LATEST US DATA

Growth slows sharply as consumer spending weakens

But activity is likely to pick up given a fairly robust labour market

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The Fed left its benchmark overnight interest rate unchanged and suggested it was in no hurry to tighten monetary policy further.

Washington

US economic growth braked sharply to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports, but a pick-up in activity is anticipated given a buoyant labour market.

Gross domestic product (GDP) increased at a 0.5 per