The underlying strength of the global recovery remains uncertain. GDP figures published so far for the fourth quarter of 2009 have shown that the global recovery remains on track, despite continued concerns about its underlying strength. In Asia, the first region to emerge from the downturn, sequential growth has softened, following the stunning turnaround earlier in the year. In the US, growth continued to accelerate, but in the euro zone growth was disappointing, although a renewed improvement is likely in the first half of 2010. The recovery so far is still driven by temporary factors. The global recovery, which started in Asian emerging markets but has since spread to most major regions, is now well under way. Companies and consumers have realised that worst-case scenarios are unlikely to materialise and are adjusting their consumption, investment and hiring behaviour to suit a more benign outlook.
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