The International Monetary Fund says the risk of a global slowdown are “alarmingly high” and is cutting its global growth forecast, The New York Times reports:
It foresees global growth of 3.3 percent in 2012 and 3.6 percent in 2013, down from 3.5 percent this year and 3.9 percent next year when it made its last report in July. New estimates suggest a 15 percent chance of recession in the United States next year, 25 percent in Japan and above 80 percent in the euro area.