A leading economic think tank has decried the chances of the world economy heading for a double dip recession. But the Centre for Economics and Business Research (CEBR) has revised down its growth forecasts after downgrading its growth prospects for the US economy. It now expects the world economy to grow by 3.5% this year and 3.4% next year. It had previously forecast growth of 3.7% in 2010 and 4.1% in 2011. Douglas McWilliams, CEBR chief executive, said: “I would be prepared to bet one of my better shirts on there being no global double dip. "Although their growth will be affected by slower growth in the West, the emerging economies are too resilient for global growth to go negative again in the short term."