US economy begins ‘expansion phase’

THE US economy may grow 4% this year and has begun an “expansion phase,” said John Taylor, the treasury’s undersecretary for international affairs.

“The economy has nearly completed its recovery from the 2000-2001 stock market crash, corporate scandals and the 9/11 terrorist attacks and it is moving into an expansion phase,” Mr

Taylor told the India Economic Summit, organised by the World Economic Forum, in New Delhi.