Recession in US and EU more likely than not analyst

Major Western economies should expect a significant growth slowdown, according to investment firm PIMCO

The US will "more likely than not" fall into recession within the next 12 months, Reuters reported on Thursday, citing Andrew Balls, CIO of US-based investment management firm PIMCO.

"A recession is not the only important thing. You're clearly going to see a significant growth slowdown,"