Thursday, October 14, 2010

Roubini Expects 35-40% Chance of a Double Dip Recession in U.S.

New York University Professor Nouriel Roubini said he expects a 35 percent to 40 percent chance of the U.S. entering a double-dip recession, highlighting the risks faced by the world’s largest economy.

“Since second quarter growth in U.S. was only 1.7 percent and everything’s going to be weaker in the second half of the year, by the fourth quarter economic growth in the U.S. could be as low as 1 percent,” Roubini said in a conference today in Seoul. “The growth rate is so low it’s going to feel like a recession even if technically this is not a recession.”
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