USA: NRF Says Recession Fears Unwarranted
The National Retail Federation (NRF) says the US economy is not in a recession and is anticipating an upswing in consumer behavior toward the end of 2001, leading into a "U" shaped recovery for the current economic slowdown. Writing for NRF's Retail Sales Outlook, NRF chief economist Rosalind Wells said: "Although the economy was unquestionably weak in the first few months of 2001, we see signs that the malaise will end and that economic activity will improve in the second half of the year."
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