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February 20, 2008
EIU Lowers U.S. Growth Predictions For 2008
The Economist Intelligence Unit (EIU) has lowered its U.S. growth forecast for 2008 to 0.8% from its previous forecast of 1.5% growth.
The EIU also predicted that it will take the economy longer to recover in 2009 than originally anticipated. GDP growth for next year is expected to come in at 1.4%, down from its original estimate of 2.0%.
The revisions are based on the continued deterioration of the housing market and balance sheet adjustments in the financial sector, the group said.
Posted by Blacks on February 20, 2008 09:51 AM
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