NIESR

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Mild recession but EMU intact, says NIESR

LONDON | The London-based National Institute of Economic and Social Research on Friday put its baseline forecast for global growth on 3.5% for 2012. The NIESR gave next year a slightly higher growth rate probability of 4%. In both cases, the Institute assumes a downward revision of about 0.5 percentage point in each year compared to its last forecast. The NIESR warned that the financial instability resulting from the euro crisis, combined…