Baring Asset Management is predicting that the US economy will not come out of recession until 2003....
Baring Asset Management is predicting that the US economy will not come out of recession until 2003. The group believes the US consumer will be quite conservative faced with tougher economic conditions. James Williams, chairman of the strategic policy group at Barings, said: 'We expect US consumers to be more inclined to repay their debt and lift their savings rate. This will suppress consumption until at least the middle of 2002.' He added that there should be a stronger recovery than was envisioned but that it would not take place until 2003. Schroders is also predicting a US rece...
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