Admittedly, the recession before that -- the double-dip slump from 1979-82 -- was a much more wrenching affair.
SEOUL - The world economy is slowing down due to a combination of factors such as the euro zone's debt problems and a weak U.S. housing sector, but it is not headed for a double-dip slump, the head of the OECD said on Monday.
Until the recent crisis, the worst setback experienced by the U.S. economy since the Great Depression was the "double dip" of 1979 to 1982--two 1982--two 1982--two succession that arecessionsewed as basinally a single slump with a stutter in the middle.
China risks a "double dip" in GDP growth, with a slowdown in early 2010, if slumping exports and housing don't pick up by the end of this year, barring any further stimulus packages or bank lending booms, UBS economist Tao Wang cautioned.
Analysts warn that the government's support will probably soon fade once the year-end is behind it.Stockmarket bulls are confident that recent, upbeat data rule out a "double dip" recession in America one where the economy picks up briefly, only to slump again before setting out on a full recovery.
So why was the recession of 1990-91 merely an average U.S. recession, while the 2007-09 slump was severe and possibly a prelude to a double dip?
Markets are braced for figures due out on Tuesday to show that the eurozone is officially in a double dip recession, and fear that the events of the past few days will intensify the slump.
There was always a good deal of truth in the coalition claim that the UK economy never suffered a double dip recession, let alone a triple dip, in the sense that the dips pointed to a slump akin to 2008's; but this also means the rise we see now cannot justifiably be trumpeted as a sustained recovery.
Double dip sundae, $5.69.
Double dip recession looms.
