By  on July 20, 2010

A slowdown in the rate of economic recovery is casting another pall over the retail world.

Blake Hallinan, a director in the consumer and retail investment banking group at Bank of America Merrill Lynch, noted that Merrill recently cut its forecasts for GDP growth for the year to 3 percent and, for 2011, 2.5 percent. Many economists last month began shaving growth projections as the rebound has been tamped down by persistently high unemployment, low consumer confidence and fears about Europe’s sovereign debt crisis, among other factors.

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