More than 70% of Q4 advance came from temporary collapse in imports, business investment subdued & consumers + cautious
![](https://pbs.twimg.com/media/EPiWPubU0AASwmn.png)
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Biz facing worst outlook since '16 w/ lingering headwinds from global growth, #trade protectionism, policy uncertainty, dollar & energy
![](https://pbs.twimg.com/media/EPig5AUVUAUty7V.jpg)
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Persistent inflation undershoot, weakened inflation expectations & lingering softness in US econ activity will bolster case for additional mid-yr #Fed cut
![](https://pbs.twimg.com/media/EPipI2eX4AIZ8lA.jpg)