“A worsening of the euro area crisis, the ‘fiscal cliff’ in the United States and a hard landing in China could cause a new global recession,” Robert Vos, the principal author of the report, told a news conference at the United Nations headquarters in New York.
Vos is the director of the Development Policy and Analysis Division of the United Nations Department of Economic and Social Affairs.
“Each of these risks could cause global output losses of between 1 and 3 percent,” he added.
The UN report said the 2012 growth rate was 2.2 percent, adding that the global economy is expected to grow at a rate of 2.4 percent in 2013 and 3.2 percent in 2014.
“This pace of growth will be far from sufficient to overcome the continued jobs crisis that many countries are still facing,” it added.