“We view recent economic developments as broad reaffirmation of our core economic views: the global economy is now moving into the second year of expansion, but will do so with momentum fading, rather than building. Growth in 2011 will be lower than 2010.”
That slowing growth — not outright recession — is consistent with my own read of the data.
I disagree with some many of the other conclusions they reach in the report. I doubt Housing Prices are done going lower, or that austerity measures are need immediately. Their timid approach to finreg reform ignores the prior 5 years. And they seem to be behind the curve when it comes to acknowledging deflation; their belief that core inflation rates are coming down is, to be polite, very old news. Time to wake up and smell the increasingly inexpensive coffee.
Regardless, it is a pretty substantial global review, worth sifting through. There are 65 charts in their report; here are a few choice ones:
Hat tip Real Time Economics