Business News
US recession unlikely, but IMF downgrades growth outlook
Jun 22, 2007, 15:43 GMT
Washington - Despite signs of a sluggish US economy, the International Monetary Fund Friday said a US recession was unlikely, although it gave an even gloomier projection for the current year than the White House's estimate earlier this month.
In its country report, the IMF cited signs of a faster tempo in the US economy and sinking inflation, which it said indicated a 'soft landing' would be the most likely scenario.
The IMF projected a US growth rate of 2 per cent for the current year - lower than the 2.3 per cent projected by the White House economic team earlier this month.
The report also projected growth of 2.75 per cent for 2008.
© 2007 dpa - Deutsche Presse-AgenturCOMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
