Thursday, April 17, 2008

'A recession is characterised by higher levels of unemployment.'

How much will US recession cost India?

The question is no longer about whether the US financial woes will impact Indian companies. The anxiety is to know the extent to which our economy is vulnerable when the US sneezes.
But wait. Are we talking about a ‘fear’ of US recession? We were, but now the fears have been ‘borne out,’ says Dr Shanto Ghosh, Principal Economist, Deloitte Haskins & Sells, Bangalore.
“The International Monetary Fund (IMF) recently released its World Economic Outlook, which is widely regarded as the most authoritative report on the world economy,” he adds, during a recent e-mail interaction with Business Line.


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