The U.S. economy currently remains the most important growth engine. However, whether U.S. consumers will soon receive support depends on a number of factors. In Europe, the economy is running at a much slower pace. Central banks are trying to combat this by cutting interest rates.

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Services remain the driving force behind US economic performance. While economic activity is losing momentum, it does still remain intact. There are much greater challenges facing Europe and China, and both regions would benefit from additional stimuli.