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In Vino Veritas : Wine Sampler 2
I for their umbrellas this year as the storm clouds that gathered over world break. The possibility of a US recession is weighing heavily on global economies. While "decoupling'' - or a belief the rest of the world has become less dependent on believe any slump in the world's biggest economy will still have a global impact. "For Australia, it is the indirect effects of a US recession that matter most,'' Commsec chief equities analyst Craig James said. "That is, the effect where US businesses and consumers spend less, leading to less production in China and, in turn, less demand for resources in Australia.'' recession, along with the fact the share "the investment outlook is shrouded in a higher degree of uncertainty than has been the case for some time''. weaker global economic growth and plenty half, "lower global interest rates should help ensure reasonable, but constrained, investment returns overall''. GoldmanSachs JBWere economist Shamubeel Eaqub last week issued a bearish commentary on the Australian economy in which he forecast growth to slow to just 1.1 per cent. "The outlook for economic growth remains weak in our view,'' he said in the report. "The domestic economy will continue to slow as the impact of tight monetary policy, slowing net migration and higher petrol prices lean against the economy ... we expect the domestic economy to run out of steam.'' Debt-inspired pain is likely to again emerge as a big theme, especially as the full impact of last year's rate hikes hits consumers and retailers. The forecast slowdown in consumer spending may affect the prospects of national retail giant chains such as David Jones, Myers and Harvey Norman. Banks such as ANZ, Suncorp Metway and St George may also come under severe pressure as borrowers struggle to meet higher interest charges. CALCULATOR: Sort out a new savings simulator INVESTING GUIDE DO YOU NEED A FINANCIAL PLANNER: Here are the 5 steps to follow Testing year ahead for investors HOT STOCKS OF 2008: The Leading Analysts have given Inside Word on the FINANCE 21 WEALTH CREATOR Available at leading Newsagencies or by Subscription at www.wealthcreator.com.au 8 8 8 8
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