In the past the US has been known as the consumer of last resort, with any pick up in household spending naturally spreading into the coffers of other nations and assisting global growth.

But a report by Bloomberg suggests that the impact is waning

A rebounding U.S. is giving less support to global growth than in the past. Homegrown demand and production are more important drivers of the world’s biggest economy than they were a decade ago

Not good news for global recovery at a time when it’s very much looking for every scrap of help it can get

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