US recession set to last until 2003

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Not only will the US recession will be deeper and longer than expected, but it will last all the wa...

Not only will the US recession will be deeper and longer than expected, but it will last all the way through next year, according to a US hedge fund manager. David Webb, chief executive and fund manager at Shaker Investments, said he expected to see a significant drop in US GNP in 2002 in real terms, possibly in excess of 2%. 'The stock market typically rallies some three to six months before the end of a recession,' Webb noted. 'In bear markets, the market often rallies in anticipation of an economic recovery. However, if the economy does not recover, the market declines. 'We reg...

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