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US growth - reading the tea leaves

ECONOMISTS are more divided than usual over the outlook for the world’s largest economy. The US faces some major structural problems and a few commentators are wondering whether the country can maintain its place at the centre of the global economy. Stockmarkets have lately ignored the economic ‘big picture’, but investors could have plenty to worry about after the distraction of the US Presidential election in November. <b>By Peter Gibson</b>

The current US economic recovery has produced average GDP growth of 3.4% over the last ten quarters. This pales in comparison with the average 5% growth experienced during the recovery phase of the previous...

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