IMF: Europe a Recession Threat

Just as the U.S. starts to see stronger signs of recovery, the International Monetary Fund warns that the global economy isn’t out of the storm yet. The IMF sliced its global growth forecast from 4 percent to 3.3 percent and warned that Europe’s debt crisis continues to threaten a worldwide recession. Economic activity in advanced economies is expected to expand by a sluggish 1.5 percent, not enough to bring down high unemployment rates.