2012-2013 Economic Outlook:
Economy Battles Strong Headwinds: Modest Growth Ahead

Introduction

As 2011 got underway, the global economic recovery seemed broadly on track, but as tim has passed, it has seemed less secure. A throng of economic troubles—the rise in energy prices following the Arab Spring uprisings, disruptions to global supply chains caused by Japan’s earthquake, the political stalemate over the U.S. debt ceiling and Europe’s deepening sovereign debt crisis—have put a chill on the global economy.
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