Waltham, MA (October 24, 2008) - Nariman Behravesh, Chief Economist at IHS Global Insight, the recognized leader in providing the most comprehensive global economic information, analysis and consulting services to corporations, financial institutions and governments around the world, says the U.S. and global economies will struggle through a deep recession that will lead to a modest recovery in 2010 and "a more robust recovery in 2011."

"Yes, the recession will be deep, but the recovery is also likely to be strong," Behravesh said, citing four positive factors: falling food and fuel prices; swift and coordinated responses from governments to the crisis and any aftershocks; and massive amounts of liquidity pumped into the system already by central banks - with more to come and further fiscal stimulus.

Behravesh made his revised forecast as IHS Global Insight announced it has established a Center for Econometric Forecasting, Modeling and Computation Excellence to ensure that IHS Global Insight maintains its innovative lead in the field.

The new in-house Center for Econometric Forecasting, Modeling and Computation Excellence will be headed by a managing director and will be a stand-alone resource for the firm's economists and analysts, as well as clients. Using state-of-the art techniques and software, and building on nearly five decades of successful and accurate econometric modeling, the Center will develop a suite of computable general equilibrium (CGE) and dynamic general equilibrium (DGE) models as tools for conducting policy analysis on issues including climate change, tax, energy and healthcare policy.

"We are making a renewed commitment to modeling, the groundbreaking initiative that launched this firm nearly 50 years ago, in order to give us and our clients new and better tools to improve on the degree of accuracy that already is among the most respected in the field," said Scott Key, IHS Global Insight president and chief operating officer.

"The Center for Econometric Forecasting, Modeling and Computation Excellence will be a key driver in ensuring that we stay on top of our game, that IHS Global Insight remains an innovation leader in econometric modeling," Behravesh said. "We and our clients are grappling with the policy implications of a host of issues that didn't exist very long ago - climate change, cap and trade, fuel efficiency standards, universal healthcare, and the list goes on."

An advisory council of leading economists and academics will help set the Center's research agenda. This advisory council will be comprised of individuals with extensive experience in economic modeling, chaired by Behravesh and including Joseph Kasputys, chairman emeritus of IHS Global Insight, and recognized academics from the U.S., Europe and Asia.

Noting the grim findings of his revised forecast, Behravesh said that while the "full fury" of the financial crisis and oil shock is beginning to dissipate, the "full impact on the real economy has yet to be felt. There is little doubt that the economic outlook will get worse - possibly much worse - before it gets better. Nevertheless, given the recent dramatic reversal in the price of oil and other commodities, the gradual thawing of credit markets, and the large amounts of fiscal and monetary stimulus that have already been set in motion and are likely to be enacted soon, the recovery is likely to be more robust than many pundits are currently predicting," he added.

For more information please visit: www.globalinsight.com/CEFMCE

About IHS Global Insight (www.globalinsight.com)
IHS Global Insight (www.globalinsight.com) provides the most comprehensive economic and financial information available on countries, regions and industries, using a unique combination of expertise, models, data and software within a common analytical framework to support planning and decision-making. IHS Global Insight founded the modern economic forecasting industry more than 40 years ago, and today the company is recognized as the most consistently accurate economic forecasting company in the world. Through the world's first same-day analysis and risk assessment service, IHS Global Insight provides immediate insightful analysis of market conditions and key events around the world, covering economic, political, and operational factors. IHS (NYSE: IHS, www.ihs.com)) is a leading global source of critical information and insight that enables innovative and successful decision-making for customers ranging from governments and multinational companies to smaller companies and technical professionals. IHS data and expertise spans four areas of information encompassing the most important concerns facing global business today: Energy, Product Lifecycle, Security and Environment. IHS has been in business since 1959 and employs approximately 3,800 people in 20 countries.