US slowdown could spark global economic recession - UN

correspondents in New York
http://www.news.com.au/dailytelegraph/story/0,22049,23031893-5001024,00.html?from=public_rss

THE apparent US economic slowdown could trigger global recession this year and stymie years of robust growth in Asia and Africa, the UN said.

"The major uncertainty for 2008 now emanates from the US economy," according to the world body's World Economic Situation and Prospects 2008.

"A further slowdown in the world's major economy will hit many of the poor nations hard, as it will slow world trade and put an end to the boom in commodity prices that benefited them over the past years," it said.

The report said the economies of Japan and Western Europe, already operating near production potential, were not capable of taking up the slack.


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