The U.S. economy is slowing after a comparatively strong second quarter, as support from fiscal stimulus has ebbed and effect of the U.S. credit crisis is intensifying, based on the WEO, which estimates the U.S. will record year-on-year growth of 1.6 percent in 2008 and 0.1 percent in 2009 against 2.0 percent in 2007. A turnaround in industry sector, and a lot more stable oil prices, is needed lay the basis for incipient recovery sooner or later in 2009, but the revival is anticipated to be considerably more gradual than in every single previous economic cycles, as tight credit conditions still weigh heavily on domestic demand, said the give an account.
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