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IMF lowers estimate of US economic growth to 2% for 2014

June 16, 2014



Washington (Alliance News) - The US economy will grow by a weaker-than-expected 2% this year, the International Monetary Fund (IMF) warned Monday.

The figure is well below the IMF's previous estimate of 2.7% and would be only slightly higher than economic growth in 2013, which stood at 1.9%.

The IMF pointed to recent data showing a "meaningful rebound" in activity, adding that it will only partly offset a contraction that occurred in the first quarter.

The factors underpinning the economic slowdown include an ageing population as well as high levels of poverty and long-term unemployment, the IMF said.



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Source: Alliance News


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