Wholesale inventories rose as companies built up stocks of autos and machinery, though sales declined.
Applications for U.S. home mortgages fell in the latest week as interest rates edged higher, an industry group said on Wednesday.
The administration pointed to declining budget deficit and improved housing market as likely factors for economic growth.
The loss of economic momentum in some emerging market economies (EME) is hitting global growth prospects, the OECD has warned.
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