IHS World Economic Outlook Conference to Meet as European "Economic Crisis Unfolds Like a Train Wreck"

LEXINGTON, Mass.--(BUSINESS WIRE)--The European economic crisis is "unfolding like a train wreck in slow motion" with Eurozone economies likely already in recession and an all but inevitable Greek debt default on the horizon, says IHS Chief Economist Nariman Behravesh. Behravesh and IHS Global Insight Chief U.S. Economist Nigel Gault will explore the implications of a worsening Eurozone economy on the U.S. and rest of the globe at the IHS World Economic Outlook Conference October 25-26.

The October IHS Global Insight baseline forecast incorporates a mild recession for the Eurozone, with growth negative in the fourth and first quarters. Despite the grim outlook, IHS Global Insight says there is a 75 percent probability the Eurozone will "muddle along."

However, the prospect of a Eurozone "Lehman II" meltdown brought about by defaults, political paralysis and a major crisis of confidence in financial markets is at 25 percent, says Behravesh, adding that uncertainty around events in Europe "is huge."

Europe, its prospects grim and grimmer under the IHS scenarios, and the impact of Europe's troubles on the rest of the world are among the significant economic topics to be explored in the World Economic Outlook Conference October 25 – 26 in Washington, D.C. The conference, "Recovery Stalled: Reinvigorating Growth While Tackling Debt," will also include presentations and panel discussions by economists and industry experts from throughout IHS as well as other guest speakers exploring global economic flashpoints, including the stagnant U.S. economy, and concern about overheating in booming emerging markets such as China and Brazil.

Other speakers headlining the conference include former White House Budget Director Peter R. Orszag, former Council of Economic Advisors Economist Susan M. Collins, Peterson Institute Senior Fellow Nicholas Lardy, and author and Council on Foreign Relations advisor Sebastian Mallaby.

In addition to a major global economic presentation by Behravesh, Gault will explore whether the wobbly "U.S. recovery still has a pulse." IHS Global Insight Director of Sovereign Risk Jan Randolph and Mallaby, author of "More Money than God: Hedge Funds and the Making of a New Elite," will lead an in-depth discussion further exploring the impacts and implications of the European debt Crisis.

IHS experts and other guest speakers will examine the role of oil and shale gas in the future of energy policy and supply, and the unique challenges facing emerging markets in Latin America and Asia. In addition, the conference will feature a panel discussion on the impacts of the global economy on U.S. industry, including commodities, chemicals, construction and the automotive industry.

For more than 20 years, the World Economic Outlook Conference has been widely considered the leading forum on the direction of the global economy. This year's conference will offer critical assessments and analyses by experts from across IHS, as well as from outside experts, top academics and industry leaders.

Registration

The World Economic Outlook Conference will be held October 25-26 at The Fairmont Washington, D.C. Additional information and participant registration is available at http://www.ihsglobalinsight.com/gcpath/WEOCFall2011.htm

News Media

Members of the news media interested in covering the event can do so free of charge, but must register in advance by e-mailing jim.dorsey@ihs.com or katherine.smith@ihs.com.

About IHS (www.ihs.com)

IHS (NYSE: IHS) is the leading source of information and insight in critical areas that shape today’s business landscape, including energy and power; design and supply chain; defense, risk and security; environmental, health and safety (EHS) and sustainability; country and industry forecasting; and commodities, pricing and cost. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS employs more than 5,100 people in more than 30 countries around the world.

IHS is a registered trademark of IHS Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2011 IHS Inc. All rights reserved.