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US Recession fears rise

The US economy may have slid into a recession according to the latest US unemployment figures – released on Friday which showed the number of people laid off last month at its highest for five years.

February job losses were the biggest in nearly five years — US employers cut 63,000 positions from their payrolls in February.

President Bush says the economy is slowing but he believes it will not go into recession. He said the recently approved package to stimulate the economy, primarily through tax rebate checks to most Americans, will provide a “booster shot.”

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