President George W. Bush said on Friday that the U.S. economy is in a slowdown but added that tax rebates should help pull activity out of the slump.
Chief executives from Europe discussed earnings, opportunities and challenges their companies face in 2008 with CNBC Europe Friday.
The United States is in a recession but the downturn is expected to be mild because consumer spending is not expected to fall precipitously, Standard & Poor's said Thursday.