Fears were further raised by Finmeccanica chairman Pier Francesco Guarguaglini, who told a press briefing in Rome that sales were heading for a dip.
But that can't help us figure out if we're headed for a double dip, a stagnant decade or a sudden rebound.
Still, the markets were not so sanguine, latching on to the figure as a sign that the economy was headed for a double-dip recession.
In the current cycle, gold peaked at $1,900 an ounce last fall amid worries that the American economy was headed for a double-dip recession and that the euro zone would collapse.
Italy is also doing worse than it did in the 1930s — and with Spain clearly headed for a double-dip recession, that makes three of Europe's big five economies members of the worse-than club.
That's the same percentage as those that say things will get worse, so it's not like more people think we're headed for a double-dip recession.
Shoppers cut back on food and clothing last month, prompting a surprise fall in UK retail sales and stoking fears that Britain is headed for a triple-dip recession.
The summer calm is in stark contrast to the same time last year, when markets were swinging wildly amid the downgrade of United States debt and fears that Greece would default on its bonds and the United States was headed for a double-dip recession.
But despite Mr. Obama's campaign to sell the plan to Congress and voters, more than half of those questioned said they feared the economy was already in or was headed for a double-dip recession, and nearly three-quarters of Americans think the country is on the wrong track.
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.
