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Recession-o-meter swings to slowdown

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(CNN) -- CNN's Recession-o-meter swung towards slowdown Thursday as correspondent Richard Quest put big business figures on the spot, pushing them to predict the financial future at at the World Economic Forum in Davos.

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

Keep checking for video updates as more business figures give their verdicts on which way the global economy is going.

By the close of play on Thursday morning, the slowdown camp had edged ahead, with 17 votes to 15.

Quest says the results have been a surprise -- but their are doubts whether guests are really speaking their mind.

"I came to Davos expecting the recessioners to be overwhelming. Initially the recessions were in the lead, but the Fed's action brought the slowdowners out of the box and now they're in the lead," he said.

"I'm slightly suspicious that some of the slowdowners are taking this as the easy way out."

It's just a slowdown

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 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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