Nouriel Roubini: A Phantom Economic Recovery?

09/19/2009 05:12 am ET | Updated May 25, 2011

Data from the US -- rising unemployment, falling household consumption, still declining industrial production, and a weak housing market -- suggest that America's recession is not over yet. A similar analysis of many other advanced economies suggests that, as in the US, the bottom is quite close but it has not yet been reached. Most emerging economies may be returning to growth, but they are performing well below their potential.

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