Economist Nancy Lazar warned on Monday that the world is in the early stages of a “very significant” recession.
Economist Nancy Lazar warns that the world is in the early stages of a"very significant" and"synchronized" recession.
Gross domestic product, the broadest measure of goods and services produced across the economy, grew by 7% on an annualized basis in the fourth quarter, the Commerce Department said in its second reading of the data in February. The economy grew at an annual revised rate of 2.3% in the third quarter.
Lazar noted that the U.S. faced "a similar situation back in 2015" and that there were "fears of a recession" in 2016. "You didn’t get it, in part because the backbone of the United States is pretty healthy, which we still think is the case," she told Bartiromo. "But, nonetheless, outside of the United States, indeed you do get a recession, led by the Euro zone given what’s going on with oil prices and global interest rates."
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