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The Boston Globe

Business

Hesitant businesses hold back spending

WASHINGTON — Companies are holding off on purchases of computers, industrial equipment, and other long-lasting manufactured goods, a trend that is slowing the US economy.

A fourth straight month of lackluster corporate spending led many economists on Thursday to trim their forecasts for growth in the July-September quarter. The government will issue its first estimate of third-quarter growth Friday, the last snapshot of overall economic activity before the presidential election.

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