Slow Economic Recovery or Double-Dip Recession?
The global economic prospects in 2010
After a sharp and synchronized global downturn, United Nations economists expect the world economy to bounce back with a mild 2.4 per cent growth in 2010. The rebound is due to the massive and to some extent concerted policy actions taken by the major economies, which effectively arrested a further erosion of confidence worldwide. But a double-dip recession cannot be excluded. A WDEV summary
The cutbacks in industrial production that characterized early stages of the recession have now been reversed. But the recovery is fragile. Firms have mainly begun to restock inventories, rather than respond to stronger consumer or investment demand. In a pre-release of its annual report, the World Economic Situation and Prospects 2010 (WESP), the United Nations says an increasing number of economies showed positive growth in the second quarter of 2009 and the recovery momentum continued to build in the third quarter ...
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