The good news, according to S&Ps chief economist David Wyss, is that the global economic recession wasn’t really much of a recession at all. The bad news, however, is that the global recovery isn’t really much to be get excited about, either.
Although the easing of interest rates by Alan Greenspan and other leading bankers means the global recession has been relatively mild, Wyss says that excess capital together with continuing war fears mean that much of business spending is on hold.
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