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US Sliding Into Recession with Major Global Slowdown, IMF Predicts

The United States is heading towards recession with major global slowdown amid financial crisis International Monetary Fund (IMF ) in its latest World Economic Outlook (WEO) predicts.

  • World growth will slow amid most dangerous financial shock since 1930s
  • No growth in many advanced economies until at least mid-2009
  • Global economy expected to stage modest recovery later in 2009

Global Recession close to reality, IMF Predicts

The world is heading towards a global recession, latest forecasts from the International Monetary Fund (IMF) have predicted.

In it’s latest report International Monetary Fund (IMF) have predicted world growth could slow to 3.7 % in 20080.5 % point lower than what was forecast in the January 2008, citing the unfolding financial market turmoil as the biggest downside risk to the global economy.