Slower growth increasingly likely

Growth could be slower for the North American economies this year, with consumer and capital expenditure remaining the key weak spots. Consumers in both Canada and the US are threatened by the high oil price but the US has a secondary problem with its widening current account and budget deficits. Sanjay Joshi, head of fixed income at London and Capital, says there has been some speculation that the US economy may slow down in the next six to 12 months. The Fed has been raising interest rates and GDP could slow this year from 4.5% to 3%-3.5% with similar figures next year. However, he i...