Growth to slow due to housing, business spending, experts say

April 10, 2007

The swelling housing recession and slower business spending are likely to result in 2007 economic growth slipping to 2.4 percent, the weakest pace in five years, according to Bloomberg.

Mortgage defaults and rising foreclosures threaten the housing market, and falling business investment might restrict the number of jobs companies are willing to create, said 29 economists surveyed by Bloomberg.

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