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America's oil states show early signs of slowdown
Many companies have announced layoffs and are cutting spending plans
Published Mon, Dec 15, 2014 · 09:50 PM
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Los Angeles
AFTER leading the US economic recovery out of recession, some of the nation's top oil states are showing early signs of a slowdown as a result of the plunge in crude prices.
In Houston, Texas, the first oil industry layoffs have been announced, with realtors there predicting a sharp decline, up to 12 per cent, in home sales next year.
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