Introduction

It seems that the world's economists have finally got it together and decided to agree about something: Yes, we are in a recession - but by the second half of 2002 everything should improve again. So, apart from the fact that it took the majority more than six months to come out with a coherent prediction, the time-scale has also been extended to give them a greater chance of accuracy - yet more proof that you need to be extremely intelligent to be an economist.

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