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- Title
Interest rate cuts and the US slowdown.
- Authors
Holland, Dawn; Khoman, Ehsan
- Abstract
The article features an economic forecast of the U.S. for 2007. Because of the fear of U.S. recession, it resulted to the turbulence in the financial markets. Based on real data gathered up to November 2007 it remained relatively optimistic for the country because its gross domestic product (GDP) for the third quarter increases at an annual rate of 4.9% but the economic activity in December 2007 is disappointing because of the softening of the country's growth wherein major banks reported profits close to nil in the final quarters of 2007 due to the subprime crisis. Indicators show that the housing and labour market are weak attributed to the decline in residential real estate lending and employment in construction.
- Subjects
UNITED States; UNITED States economy, 2001-2009; ECONOMIC indicators; ECONOMIC development; ECONOMIC forecasting; INTEREST rates; RECESSIONS; EFFECT of inflation on unemployment; BUSINESS cycles; ECONOMIC activity
- Publication
National Institute Economic Review, 2008, Vol 203, p15
- ISSN
0027-9501
- Publication type
Article