WASHINGTON — State and local governments are poised to increase spending this year, adding to the U.S. economic expansion, even as their federal counterpart cuts back.
Outlays by state and local authorities will add about 0.2 percentage point to gross domestic product in 2014, according to a forecast by economists at Morgan Stanley in New York. The federal government will probably contribute nothing to a projected increase of at least 2.6 percent in this year’s GDP.
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