Russia is “experiencing recession now” because of damage caused by the Ukraine crisis, the International Monetary Fund (IMF) has said. … The IMF cut its 2014 growth forecast for Russia to 0.2% from 1.3% and said it expected the country’s economy to grow by only 1% next year.
The American economy slowed drastically in the first quarter of 2014 … At an annualized rate of 0.1 percent, the pace of expansion in January, February and March was the weakest since the fourth quarter of 2012 …. The first-quarter pace also fell well short of the 1.2 percent rate of growth expected by Wall Street economists before the Commerce Department announcement Wednesday morning.
Back to old drawing board, I guess.