US in economic slowdown but far from recession-IMF

The International Monetary Fund has said that the United States is facing a slowdown in growth that will curb the global economic expansion. But the US economy is far from a recession and is nowhere near contracting, added the IMF's first deputy managing director, Stanley Fischer.

The remarks came after repeated warnings in recent weeks by President-elect, George W. Bush, and his aides about US economic slowdown. Mr Fischer said that the US slowdown would especially hurt Mexico, East Asia and

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