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"I'm growing more optimistic that the economic activity in the U.S. is firming to the point that it's durable"
- Mark Luschini, chief investment strategist at Montgomery Scott LLC
U.S. corporations, such as Cisco Systems Inc., ended 2011 with the slowest profit growth in two years amid global economic slowdown, estimated Bloomberg analysts.
"Slowing global growth, some impairment of export activity to Europe and perhaps even the rise of the dollar collectively have begun to sort of work against the multinational story," said Mark Luschini, chief investment strategist at Philadelphia based Janney Montgomery Scott LLC.
In the meantime, recent economic data shows that the U.S. economy is recovering. "I'm growing more optimistic that the economic activity in the U.S. is firming to the point that it's durable," said Mr. Luschini.