Financial Times FT.com

Corporate America braced for recession

By Francesco Guerrera in New York

Published: January 29 2008 19:51 | Last updated: January 29 2008 19:51

Leading US companies are shifting into recession mode and preparing to cut costs, freeze hiring and reduce capital spending as they brace for an economic slowdown, senior executives and industry experts said.

Their concerns are likely to be reinforced by the International Monetary Fund, which slashed its forecast for US growth and warned that no country would be completely immune from what it termed a “global slowdown”.

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