As the cyclical macroeconomic data continues to deteriorate and the economy flirts even closer with recession, we thought it worth taking a step back to look at the slightly bigger picture, and at one area in particular where there seems to be some positive developments taking place—research and development. This is a crucial component of growth, and the news here has been encouraging. In this week's Economics Weekly, we look at recent updates in R&D and how they might impact economic growth, productivity, and corporate profit margins.
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Richard de Chazal, CFA is a London-based macroeconomist covering the U.S. economy and financial markets.