Tags: imf | economy | unemployment | housing

IMF: US Economy Recovering But Still Vulnerable

Thursday, 08 Jul 2010 10:05 AM

The International Monetary Fund said on Thursday the U.S. economic recovery has proved stronger than expected but is still vulnerable to high unemployment and a moribund housing market.

The IMF raised its U.S. growth forecast slightly to 3.3 percent for 2010 and 2.9 percent for 2011 but said unemployment would remain above 9 percent for both years and inflation would remain low.

In a statement released after its annual consultations with U.S. government authorities the IMF said recovery from recession had become well established due to a powerful fiscal and monetary policy response.

"The outlook has improved in tandem with recovery but remaining household and financial balance sheet weaknesses -- along with elevated unemployment -- are likely to continue to restrain private spending," the Fund said.

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The International Monetary Fund said on Thursday the U.S. economic recovery hasproved stronger than expected but is still vulnerable to high unemployment and amoribund housing market.The IMF raised its U.S. growth forecast slightly to 3.3 percent for 2010 and2.9 percent for...
imf,economy,unemployment,housing
126
2010-05-08
 

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