The world economy will slow sharply this year and next, with the United States likely sliding into recession reflecting mounting damage from the most dangerous financial jolt in more than a half-century.
The global crisis will likely worsen in 2009
Battling the worst financial crisis in nearly 70 years, the world economy will brake sharply in 2009, with the United States, Western Europe and Japan in recession.
Europe feels thunderclap, recession looms
Stocks sank, the pound and euro plunged, and company after company delivered bad profit news Friday as Europe got another severe jolt from the global financial crisis.
White House warns GDP number is not good
The White House said Thursday the economy will remain gloomy through at least the end of the year, inching closer toward a recognition the United States is in a recession.
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