# Prof. Michael Spence on the US and global economic outlook

1 Faculty News September 17, 2012 ![CNBC logo](/sites/default/files/styles/246w/public/assets/images/con_034412.gif?itok=MRidxYS3)>

Excerpt from [CNBC](http://www.cnbc.com/id/49060693) -- “We were relying on the one growth engine in the world, which was the emerging economies coming out of the crisis, and now they've slowed down because of the hit they've taken primarily from Europe”

[Read more](http://www.cnbc.com/id/49060693)

Additional coverage appeared on three other CNBC pieces: [1](http://video.cnbc.com/gallery/?video=3000116461&play=1), [2](http://video.cnbc.com/gallery/?video=3000116477&play=1), [3](http://video.cnbc.com/gallery/?video=3000116048&play=1)