The risk of the global economy falling into a recession is rising as fundamentals remain poor, analysts at Citigroup said in a note Wednesday. “We are currently in a highly precarious environment for global growth and asset markets after two to three years of relative calm,” Citigroup said, noting that global growth was “unusually weak” in the fourth quarter at around 2.0 percent on-year.

“The most recent deterioration in the global outlook is due to a moderate worsening in the prospects for the advanced economies, a large increase in the uncertainty about the advanced economies’ outlook (notably for the U.S.) and a tightening in financial conditions everywhere,” the bank said. READ MORE