The US economy will see little or no recovery next year from its present downturn, as its housing market slump and the global credit squeeze continue to take a toll on growth, the International Monetary Fund will say next week, according to leaked forecasts.
The IMF is preparing to cut sharply its previous projections for the US and world economy in its twice-yearly assessment of the global outlook next week, the leaked drafts of its impending report showed last night.
As Alistair Darling, the Chancellor, prepares to unveil his first Pre-Budget Report today, the figures show that the fund is also set to cut its forecasts for Britain’s growth next year to only 2.3 per cent, down from the 2.7 per cent that it projected in April.
Read Complete Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment