The Economist (June 18)
“China’s economy is on course for a ‘double dip.’ The post-covid economy was meant to roar. But it is faltering again.” Since April, “retail sales, investment and property sales all fell short of expectations. And the unemployment rate among China’s urban youth rose above 20%, the highest since data began to be recorded in 2018.”
Tags: China, Double-dip, Economy, Expectations, Faltering, Investment, Post-Covid, Property sales, Retail sales, Unemployment rate, Urban youth
The Financial Times (October 19)
As the second wave of COVID-19 strikes, “Europe’s economy is sliding towards a double-dip recession, with economists warning that rising coronavirus infections and fresh government restrictions on people’s movement are likely to cut short the region’s recent recovery.”
Tags: COVID-19, Double-dip, Economists, Economy, Europe, Government, Infections, Movement, Recession, Restrictions, Second wave
The Independent (April 25)
In the UK, the economy slid “back into negative growth – it shrank by 0.2 per cent in the first quarter, after contracting by 0.3 per cent in the last quarter of 2011,” marking the first double-dip recession since 1975. A “more aggressive growth strategy” is needed. This should involve “targeted tax breaks and a serious assault on red tape to help instil business confidence.”
Tags: Double-dip, Economy, Negative growth, Strategy, UK
The Economist (August 27)
The U.S. economy is missing the usual drivers of an economic recovery, but it is equally missing the usual triggers of a recession. Whether the U.S. double dips or not will depend on the generally competent Fed, an unpredictable Congress and quite a bit on luck. In the end, there may be little difference between weak growth and a weak recession. “Although the absence of obvious imbalances or financial strains does not eliminate the risk of recession in America, it does militate against a long, deep downturn. Indeed, it may be hard for most people to distinguish a shallow recession from lacklustre growth.”
The Economist (August 12)
Suddenly Europe’s economy looks much stronger than the America’s. The Economist cautions, “it is only a matter of months ago that fortunes were reversed. Then America seemed to be pulling strongly and Europe was the laggard.” Europe’s economy is still fragile, dependent on exports (especially from the BRICS) and, excepting Germany, many European countries still wish they had America’s economy. Moreover, the Economist does not foresee a double-dip recession in the U.S. because of healthy corporate balance sheets and plenty of cash on hand.
Tags: BRICS, Double-dip, Economy, Europe, U.S.
The Economist (June 10)
Rather than stimulus, G20 leaders are now speaking fiscal restraint. But belt tightening, especially in Europe, could cause the economy to flounder or result in a double dip. The Economist points out, however, that the reality is not as bad as the talk. Much of the belt tightening is minimal and scheduled to begin from 2011. “A calm look at the numbers, then, suggests that the odds of a collective G20 blunder towards recovery-wrecking austerity this year are low.”
Tags: Double-dip, Europe, Outlook, Stimulus, Tightening
