Greenspan optimistic on US economic growth

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The Independent Online

The US economy could grow by up to 2.5 per cent this quarter, the former Federal Reserve chairman Alan Greenspan said.

His prediction yesterday was far more bullish than the 1 per cent growth expected by most economists. "The reason is there has been such an extraordinarily high rate of inventory liquidation that production levels are well below consumption, " Mr Greenspan told ABC television network.