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Recession-o-meter result: It's a slowdown

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(CNN) -- CNN's Recession-o-meter -- our unscientific poll of financial experts at the World Economic Forum at Davos -- has spoken. And it's decided that the world economy is in slowdown, not recession.

CNN anchor Richard Quest updates the recession-o-meter.

Correspondent Richard Quest has been putting big business figures and other experts on the spot at the World Economic Forum in Davos, pushing them to predict financial outlook.

By the close of play on Friday, those believing that the global economy was in slowdown had edged out those who think it is in recession by 26 votes against 18.

Click here to see who thinks we're heading for a recession. And click here to see who thinks it is just a slowdown.

Several big names weighed in on the side of recession, including James Quigley CEO of Deloitte, but most were cautious, with Merrill Lynch chief John Thaine leading the downturners.


  • Have your say:  What camp do you fall into? Recession or slowdown?

Quest said the results were a surprise after an early lead in recession votes. "As the week wore on, the slowdowners crawled out from under their rocks. They gathered and battled back. In the latter part of the week people sailed into the safe harbor of slowdown," he said.Video Watch round-up of Quest's interviews »

Keep checking here for video updates of the verdicts which will be added throughout the day.

It's just a slowdown

John Thaine, CEO of Merrill Lynch Video

"I think that the steps that the Fed is taking, the steps that the administration is taking, are the right steps, they will help, but the economy is still going to slow."

Video Steve Forbes, CEO of Forbes »

"I think the Fed should ignore interest rates and realize that if it has a stable dollar, interest rates fall on their own."

Video Stelios Haji-loannou, Founder of EasyJet »

"I think the more we talk about a recession, the more there is a risk of it happening."

Video Craig Barret, Chairman of Intel »

"There is a black cloud hanging over the market right now."

Video Richard Gelfond, CEO of IMAX Corporation »

"I don't know if it is a special effect or a gimmick yet. So all I see is a slowdown at the moment. I don't see a recession."

Video Muhtar Kent, President of Coca-Cola »

"You can't predict the future. What you can do is run your business the best way you can and with a long-term view."

Video Geoffrey Lipman, World Tourism Organization »

"I believe there is going to be a slowdown not a recession. I am optimistic."

Video Maurice Flanagan, Vice Chairman of the Emirates Group »

"I have enormous confidence in the giant size of the American economy and it's ability to recover."

Video Samuel DiPiazzas, CEO of PricewaterhouseCoopers »

"The world is connected and separated at the same time. These emerging economies have built their own markets, their financial infrastructures are stronger and I believe they can weather the storm."

Video Jeroen van der Veer CEO of Shell »

"We think the best is for people to expect more volatility. And why is that? Because there are no physical problems: you don't wait to fill up gasoline, anywhere. But there's a lot of speculation going. So it's just the mood of the market. So you could say there's more psychology in the price, than problems with the physical flow."

Video Ngozi Okonjo-Iweala, Managing Director of the World Bank »

"We hope that the stimulus that has been given by the cut in interest rates by the Fed will help to ward off worse times."

Video Andrei Kostin, Chairman of VTB Bank »

"We're drafting both scenarios, but I would still put (my money) on a slowdown."

We're heading for recession

Video Kenneth Roth, Executive Director of Human Rights Watch »

"I am sorry to say -- recession!"

Video James Quigley, CEO of Deloitte »

"I believe we need to focus on the long-term and the talent agenda and those things we need for a competitive economy going forward."

Video Timothy Flynn, Chairman of KPMG International »

"I believe that there is still more to come. We're in a market-based economy, where we're looking at fair-value accounting and marking instruments, to the markets. And, that can be brutal."

Video Ben Verwaayen, CEO of BT »

"The risk factor in the financial services was forgotten, it's back in there and that has caused so much of the problem."

Video Mark Gottfredson, Bain and Company »

"I have certainly been in the hoping for a slowdown category, but ...I think the psychology has shifted enough that I am in the recession category."

Video Michael Elliott, TIME International »

"I think the U.S. is heading for a major slowdown and that that is going to affect growth everywhere!"

Watch more of CNN's Davos coverage on the state of global economies

Video A look at market turmoil »

Video World Bank answers critics »

Video India's reactions to the U.S. economy »

Video Henry Kissinger's view »

Video Philanthropist Soros at Davos »

Video Indra Nooyi, CEO of PepsiCo talks to CNN's Charles Hodson »

Video Concerns over U.S. economy »

Video U.S. tops list of global risks »

Video Market woes to go worldwide »

Video U.S. market predictions »

Video WEF founder Klaus Schwab talks to CNN's Charles Hodson »


Listen to what CNN's correspondents think

Video CNN's Adrian Finighan, Andrew Stevens, Todd Benjamin, Richard Quest debate global economic gloom. » E-mail to a friend E-mail to a friend

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