Alan Tonelson, research fellow at the U.S. Business and Industry Council in Washington, D.C., and a frequent visitor to Northeast Ohio manufacturers, noted that the figures released Wednesday will be revised.

But he said they show America is “becoming increasingly dominated by personal consumption and housing — the toxic combination whose expansion inflated the last decade’s disastrous bubble.”

On the positive side, business investment returned as a growth engine in the quarter, Tonelson said.


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