Len Hunt, the group director of Al-Futtaim’s automotive division and a 30-year industry veteran, summed up the predicament facing the global economy perfectly this week with a driving analogy.
We have climbed up out of the recession, Mr Hunt said, and are cresting what we hope is the last rise before reaching recovery. But what really lies ahead, no one knows.
The worst recession in 70 years is officially over. The world’s largest economy resumed its expansion in the third quarter, growing 3.5 per cent from the previous three months. The rest of the world, including the Gulf, appears to be in a stubbornly slow, but steady, recovery.
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