White House admits growth to slow

IMF cuts economic growth forecast
The International Monetary Fund cuts growth forecasts, predicting that developed economies as a whole will shrink 0.3% in 2009.

Spanish jobless hits 12-year high
Spain's level of unemployment reaches a 12-year high of 11.3%, the highest level in the European Union.

China cuts interest rates again
China's central bank has announced an interest rate cut of 0.27% in order to stimulate economic growth.

US to host world financial summit
The first global financial summit is to be held in the US on 15 November, says a White House official.

Eurozone growth to 'almost halt'
Eurozone economic growth will almost grind to a halt next year, says the International Monetary Fund.