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2012, May 18
2012, May 18 Richard Hoey, chief economist of The Bank of New York Mellon, believes that the global recession has ended and that the GDP in most major countries should rise during the third quarter.
However, Hoey expects the level of economic activity and employment in most countries to remain substantially lower than it was at the cycle peaks for an extended period of time. “The news on the change in economic activity should be positive, but the news on the level of economic activity and employment is likely to remain negative,” he said.
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