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The United States is expected to see a fall off in inflation over the coming months as it was revealed that job creation is much slower than expected.
News from the US that job growth there grew by just 92,000 in July, significantly lower than the 135,000 expected, prompted fears about the health of the economy there and is likely to take its toll on consumer spending.
This brought unemployment in the US in July to 4.6 percent, the highest since January.
Also, the Institute for Supply Management's services index dropped to 55.8 last month from 60.7 in June, well below expectations of a fall to 59.
The figures have even given rise to speculation that interest rates in the United States could be cut in the near future. The fed rate has been steady at 5.25 percent for over a year now.
There are widespread signs of a slowdown in the United States economy. The dollar is weak and the Dow Jones industrial average lost more than 280 points on Friday.
06:08
Posted on Aug-05-2007
