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Product Parade: American stocks - Forecasters struggle to read U.S. market.
(From Professional Wealth Management (PWM))
Byline: Simon Hildrey
It has been a difficult start to the year for the US. Its stock market is down and economic growth has fallen below trend. This has prompted a mixed response from fund managers, who either argue that it presents a buying opportunity for investors or have taken a more defensive position in their portfolios.
In the first quarter of 2005, the US economy expanded at a slower than expected rate of 3.1 per cent although the growth rate would have been an annualised 4.6 per cent without the US trade deficit holding it back. This is its weakest performance in two years. Lombard Street ...
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