Looking into the second half of 2012, we still think the global economy is going to present quite a mixed picture. [We expect] still very slow growth in the United States, and probably ongoing recession in the European periphery, with a somewhat better picture in the core [European] economies... And maybe some improvement at the margin in the emerging world, after a generally disappointing first half of the year.
- Jan Hatzius
Chief Economist
Global Investment Research
Goldman Sachs
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