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UBS On-Air: Paul Donovan Daily Audio 'Defense economics'
Published 1 month, 2 weeks ago
Description
Defense spending is a focus as NATO leaders meet on Wednesday. Obviously, total defense spending is rising in most economies. Markets tend to get too excited about what that means for growth. Defense spending drips into the economy slowly. It will take the US more than three years to rebuild some of its missile stockpiles after the Gulf war, spreading the economic consequences.