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Friday, June 10, 2011

Wells Fargo's Weekly Economic & Financial Commentary - June 10, 2011

- Our outlook for 2011 projects GDP growth of 2.4 percent in the United States, reflecting a weak first half and a pickup during the second half of this year.
. We expect 3.9 percent global growth for 2011, with solid gains in Canada, Korea, and each of the BRIC countries.
- Consumer credit has risen for the past seven months, but the pace of recovery remains modest compared to prior recoveries, reflecting the ongoing deleveraging of the American consumer.
. The ratio of revolving credit to personal income has declined steadily and is now at a level similar to that of 1994.
- Moderate inflation and low interest rates have prompted many firms to seek credit through the capital markets, signaling many firms perceive that current financing rates and conditions are favorable relative to those expected in the future, and companies are recognizing investment opportunities.

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