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Paul Ashworth, chief US economist at Capital Economics said: “It still appears that first-quarter GDP growth is on track to rebound to a very healthy 2.5 per cent annualised or higher, which should dampen any concerns about an imminent recession.”
Nevertheless, the global outlook remains relatively gloomy despite the firm US numbers. The International Monetary Fund warned this week that it was likely to downgrade its 3.4 per cent forecast for global growth this year.
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