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Strategies & Market Trends : World Outlook

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To: Don Green who started this subject4/3/2003 11:11:52 PM
From: Julius Wong   of 48718
 
Top Economist Expects Global Recession in '03

A WALL STREET JOURNAL NEWS ROUNDUP

Morgan Stanley's chief economist, Stephen Roach, plans to formally advise clients Friday he is forecasting a world recession in 2003. He previously forecast an annual-growth rate of 2.5%.

The sharp downgrade by the high-profile Wall Street economist was spurred mostly by concern the dangerous form of pneumonia spreading around the world will deal yet another blow to growth. Known as severe acute respiratory syndrome, or SARS, the illness now has sickened more than 2,300 people on four continents and claimed at least 80 lives. Most of the cases at this point have occurred in Asia, and most of the deaths have been in China and Hong Kong.

online.wsj.com
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