DOUBLE DIP – EVIDENCE SUGGESTS NOT
My favourite chart, because it summarises the entire world economy in one line, shows remarkably how we:
- held growth steady at more than 4% up to the end of 2007
- fell off a cliff to worse than a 2% downturn at the beginning of 2009
- and have now recovered back above 4% growth in the second quarter of 2010.
It’s plain to see from the latest graph printed in the 31st July edition of The Economist.So far, so much better than many would have imagined.