WASHINGTON – Nov. 6, 2009 – A turnaround in business spending is offering the first hint that the private sector may be prepared to drive economic growth when the government winds down its efforts to spur consumption.
After six consecutive quarters in retreat, businesses in the third quarter increased spending on new computers and software at an annual rate of 1.1 percent. That marked an about-face from the first quarter’s annualized 36.4 percent plunge.
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