World Growth Forecast: Slow, Slower, Slowest

Japan will be in recession next year -- experiencing a 2% contraction in its economy. The U.S. economy will expand, but at a very modest 1.6% rate. Europe will do better -- posting a 2.3% advance in gross domestic product. At least that's the current ...
Jan. 13, 2005

Japan will be in recession next year -- experiencing a 2% contraction in its economy. The U.S. economy will expand, but at a very modest 1.6% rate. Europe will do better -- posting a 2.3% advance in gross domestic product. At least that's the current 1999 forecast from the global economic team at New York-based Merrill Lynch, Pierce, Fenner & Smith Inc. However, the probability that its so-called Armageddon scenario -- depression in Japan and the world's emerging markets coupled with recession in the U.S. and other major industrialized nations -- will occur is now only 20%, half of what was expected in September.

Sign up for IndustryWeek Newsletters
Get the latest news and updates.

Voice Your Opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!