World Bank chief: US not heading for double dip
SINGAPORE: World Bank chief Robert Zoellick voiced confidence Tuesday that the United States will not sink into another recession, amid widespread worries over the state of the world's biggest economy.
"I don't believe (the) United States and the world will go into a double dip," Zoellick told a news conference in Singapore, in response to a question on the subject.
Zoellick's comments came as global financial markets have tumbled in recent days, pulled down by renewed fears that the US economy could slip back into recession, a so-called 'double-dip'.
Most Asian markets were lower Tuesday, still reeling from the latest batch of US jobs data for August released last Friday, which was the worst since September 2010 and renewed fears over sovereign debt in Europe.
The closely monitored US non-farm payrolls report revealed that the economy created no jobs in August, leaving the unemployment rate at a stubbornly high 9.1 percent.
Copyright AFP (Agence France-Presse), 2011
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