The outlook in the large emerging markets of Brazil, Russia, China and India is not much better, with many more companies fearing sales will sag next year.
These gloomy surveys of expectations, from the same sample of companies that are included in the closely watched monthly purchasing managers' indices, underpin the most recent global economic forecasts, suggesting few advanced economies will escape recession and emerging markets cannot expect to be immune from a global downturn.
Last week the International Monetary Fund slashed its economic forecast within a month of its considered twice-yearly world outlook and said advanced economies were likely to contract in 2009 for the first time since the second world war.
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