Global Recession Likely, Depression Possible: Economist

Global recession in 2012 is "65 to 75 percent certain" and could deteriorate into a lengthy depression, Roger Nightingale, economist and strategist at RDN Associates, told CNBC. The peak rate of growth for the world's economy occurred more than 12 months ago and "it carries on going down," Nightingale said. "We are probably going into negative territory around spring of next year; it is not for certain, but that is the most likely scenario. I would say the recession is 65 percent, 75 percent certain.”
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