slow down in economy ?
World economy ‘faces slowdown’
Monday, 26 Nov 2007 08:08
The US economic slowdown is expected to have a big impact
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The global economy is set to fall to its lowest level of growth since 2002 in the next two years, according to a British economic consultancy.
The credit crunch, a slowdown in the US economy and even a post-Olympic hangover in China will contribute to the slump, the Centre for Economics and Business Research (Cebr) claims.
Its latest Global Prospects report states world economic growth will fall from 3.8 per cent in 2007 to three per cent in 2008 and remain unchanged in 2009.
High interest rates, the US housing market slump and low consumer confidence are among the factors it believes will dampen growth in the coming months.
