World economy 'worsening' /
The G-7 participants shared the view that the current turmoil in the world economy, triggered by a subprime mortgage crisis in the United States, has been growing steadily worse, rather than coming to a halt.
Is US Economy in Recession?Speculations are that US is in recession now for this quarter and might meet the technical definition of recession soon. However most of the Americans have already started facing the heat of the recession and according a survey about 48% Americans believe that the US economy is already in recession.
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