NEW YORK: University professor Nouriel Roubini said there's a high probability of another recession in the US, with Japan's outlook anemic, underscoring risks to the global recovery.
China, the world's fastest-growing major economy, may face greater headwinds should there be weak growth in the US and Europe, Roubini said in Kuala Lumpur on Monday, where he is attending a conference. "Second-quarter GDP figures for the US are likely to be revised lower after June real-estate numbers," he added.
Austerity measures to cut debt in advanced nations are hurting consumer and business confidence and households in some of the largest economies are holding back spending. "Emerging economies may have to get used to relying on domestic demand in a period of subdued growth for developed countries," Roubini said. "We know the H2 of the year is going to be worse than the first half of the year because of the tailwinds to growth from the fiscal stimulus turning into austerity," he said.
Source: - The Times of India
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