Phil Fed - Economists cut US growth forecasts

US - The world's largest economy is likely to grow sluggishly for the rest of this year but will pick up again in 2002, according to a Federal Reserve bank survey of private forecasters released today, 23 August.

The Federal Reserve Bank of Philadelphia said its quarterly survey of 33 professional forecasters estimated the economy to grow by 2.6 percent next year, down from forecasts for 2.8 percent growth in the May survey. That stands in contrast to the White House's expectations for 3.2 per

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