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That's an even deeper slump than previously forecast.
Rich countries had seemed set for a shallow, muddle-through recession; now a much deeper slump is on the cards.
In fact, deficits here and in other major economies saved the world from a much deeper slump.
If it withholds support, it stands accused of driving the economy into an even deeper slump, with the risk of political instability and social unrest.
That was the recipe that the United States, Britain, and other countries followed after Lehman Brothers collapsed, and it helped prevent a deeper slump.
However, Threadneedle Street said that QE had helped all sections of the population by sparing the country from a deeper slump.
Similar(42)
Experience since then has thoroughly refuted this concept: Across the advanced world, big spending cuts have been associated with deeper slumps.
But the meetings business is now in a deep slump.
He was in a deep slump at the time.
A deep slump saw GDP shrink by some 20% in 2009.
In this deep slump the numbers are so huge that they may pass us by.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com