ACC: Global Economy 'Has Reached a Critical State'

“The global economy has reached a critical state,” ACC chief economist Kevin Swift said in the group’s year-end economic outlook for 2011. “A global soft-patch has emerged and has been centered on manufacturing.” The euro crisis and a likely emerging recession in Europe are hampering global and U.S. growth, though ACC still expects the U.S. to avoid another recession.   “The likelihood is that the United States will avoid another recession, but that economic growth will not reach long-term trend levels until 2013,”...

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