Global Economy: Nouriel Roubini, a professor of economics at the Stern School of Business, New York University, and chairman of RGE Monitor, who is popularly known as "Dr Doom" for his gloomy forecasts, many of them which have been prescient, says recent data suggest that the rate of contraction in the world economy may be slowing. But hopes that “green shoots” of recovery may be springing up have been dashed by plenty of yellow weeds. Recent data on employment, retail sales, industrial production, and housing in the United States remain very weak; Europe’s first quarter GDP growth data is dismal; Japan’s economy is still comatose; and even China – which is recovering – has very weak exports. Thus, the consensus view that the global economy will soon bottom out has proven – once again – to be overly optimistic.