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From Komfie Manalo, Opalesque Asia:
The Swiss banking group SYZ & Co has recently released its latest “Market Outlook” report which said that the economic review of the last few weeks strengthened the scenario of stabilization of the economy, which would be followed by a phase of weak growth. On the supply side, the leading indicators in industry continue their adjustment, but their increase is losing intensity. On the demand side, the bad news from the labor market points to weak and fragile consumption for several quarters.
The report said that the trend on the financial markets had been characterized by a return of risk aversion. Interest rates have eased, while the world’s main stock markets have gone through a rather agitated period.
This view contrasts Dr. Nouriel Roubini’s, chairman of RGE Monitor and professor at New York’s Stern School, who predicted last week that no economic growth would be felt until 2010.
He was quoted by Market Oracle as saying: “I have said on numerous occasions that the recession would last roughly 24 months. Therefore, we are 19 months into that recession. If as I predicted the recession is over by year end, it will have lasted 24 months with a recovery only beginning in 2010. Simply put, I am not forecasting economic growth before year’s end. “
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