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UN chief: Double-dip recession possible

The U.S. may suffer a double-dip recession and see unemployment rise to 10 percent next year unless the Obama administration and Congress agree on more stimulus for the economy, the United Nations said.

GENEVA – The U.S. may suffer a double-dip recession and see unemployment rise to 10 percent next year unless the Obama administration and Congress agree on more stimulus for the economy, the United Nations said.

The U.N. yesterday released its analysis of the global economy, including downward revisions of growth forecasts made in May.

“If the sense of great uncertainty stays and spills over into the financial markets, and there is no clear sense that policy makers are getting their act together, we might well end up in a double-dip recession,” U.N. chief economist Rob Vos said in an interview.

 
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