Global Economies Likely to Avoid Double Dip

Digitaljournal.com reports that global economies are likely to avoid a double-dip recession.

The editorial is quoted as saying:

“Global economic activity has decelerated in recent months, with next year’s growth in North America, Europe and Japan likely to fall short of the average pace set in 2010,” said Mr. Jestin. “The severe financial strains confronting some debt-heavy European nations and the U.S. probably won’t trigger a double dip. However, the lengthy process of bringing outsized fiscal deficits under control, withdrawing unprecedented monetary stimulus and restructuring the global financial system will impede growth prospects in many countries through mid-decade.”

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