GENEVA — The U.S. economy is projected to grow by 2.6 percent in 2003, up from this year’s projected level of 2.4 percent, according to a report by a United Nations economic agency.

But the study by the 55-member country U.N. Economic Commission for Europe, which includes the U.S., warned there are severalrisks to the outlook, linked to the legacy of the boom years. The levels of private debt accumulated during the second half of the Nineties "will have to be reduced sooner or later," it said.

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