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National Economic Recovery Tied to Rise in Business Spending, Experts Say.
Byline: Rob Douthit
Aug. 10--Until recently, government and business leaders have said stock investors seemed oblivious to the economic recovery.
Some economists shared that view.
Consumer spending has mostly stayed strong, exports are rising because the dollar has weakened, and corporate profits are climbing. Job growth has been slow, but the housing market has been robust, with real estate proving to be a great investment these days.
Additionally, low inflation and interest rates persist, which would also signal economic recovery.
But a key element, business capital spending, has been lacking.
"It certainly has fallen short of what you would see in a stronger economy," said Bernita Kennedy, an economist with Bank of America. "We're seeing plenty of signs that activity will pick up, but it's been that way for a while and doesn't seem to deliver."
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