US economy faces sluggish end to 2010

US jobless claims are hindering any economic recovery

US growth will not pick up again until next year, according to several US banks and investment houses, as consumers and companies continue to park their cash and hold out for signs of a better economic environment.

Disappointing Department of Labor Q2 figures showed US GDP falling from 3.7% year-on-year growth in the first three months to just 1.6% in the second quarter, well below the Department of Commerce's forecast of 2.4%.

"The question is not so much whether the economy will slow from here

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