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Greece will be in recession for the sixth consecutive year; the economies of Spain and Portugal will shrink for the fourth time in five years.
J.P. Morgan is the only big Wall Street investment bank to forecast that the economy will shrink for two consecutive quarters, the technical definition of a recession.
It dropped from 6m in 2010 to 4m in 2012.The luxury market in mainland China, worth $18.9 billion in 2013 (see chart 3), will shrink for the first time this year, predicts Bain.
This year western Germany will pass a demographic milestone: the number of people of working age will shrink for the first time, as has already happened in the formerly communist east.
On Intrade, the Web site where contracts tied to real world events are bought and sold, traders now think there is only a 29percentt chance the economy will shrink for two straight quarters this year.
The World Bank says that net private capital flows to emerging economies in 2009 are likely to be only half the record $1 trillion of 2007, while global trade volumes will shrink for the first time since 1982 (see article).This twin shift will force wrenching adjustments.
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He drew another wedge in the pie chart for coal: it will shrink from producing nearly two-thirds of Duke's power to just over a quarter.
And perhaps the wage premium paid to workers with a college degree will shrink again, for reasons unrelated to trade.
New York City's economy will shrink next year for the first time since 1991, according to a report that was issued yesterday by City Comptroller Alan G. Hevesi.
Gross domestic product will shrink 0.3 percent for the 27 members of the European Union as a whole this year, and 0.4 percent for the 17 members in the euro zone, the commission predicted.
The IMF warned today that Britain's economy will shrink next year for the first time in 18 years, with a risk that the forecast 0.1% decline in GDP will be over-optimistic.
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