Swiss Re predicts severe recession in 2009 in industrialised economies; emerging markets better
Swiss Re's economists predict a severe recession until mid 2009 in industrialised economies, including the United States and Europe. In emerging markets, slower growth is expected but not a full-blown recession. In 2008, the insurance industry successfully weathered the financial turmoil. As market uncertainty could continue well into 2010, the industry needs to preserve capital to remain resilient
“Due to the worst financial crisis since the 1930s, the world will see a severe recession. A rebound of the economy cannot be expected before mid 2009 and market uncertainty will continue well intoOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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