IMF says US slowdown would have spillover effects

The IMF said Thursday 5 April a broadening of the US economic slowdown to consumer spending and investment would have negative spillover effects on other regions.

"If the US slowdown continues to be largely driven by the cooling domestic housing market, spillovers to growth elsewhere should remain limited, particularly with activity in Europe strengthening," the IMF said in a report.

But it added: "If the housing market downturn spreads to consumption and business investment, then larger cross-

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