Credit Lyonnais: worst US economy to occur at year-end

Despite the overwhelming anticipation that US economy will recover before the year-end, Credit Lyonnais Chief Economist thinks that the rate-cut will pay off in a year or more and the US economy will likely slump at the year-end or early next year due to the deteriorating consumer confidence and unemployment data. He estimates the economic growth for this year and next year stands between zero and 1%.

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