Mohamed El-Erian,on the Global Economic outlook

Housing, credit, public finances, and the labor areas of the economy are currently impaired and until the country gets over those structural impairments, economic growth will be tough for a while, says Mohamed El-Erian Pimco CEO/Co-CIO:" I'm really worried by the data. we've had a string of bad data. look overnight, Brazil, France, china. and Portugal, Greece, all of them came in lower than expected. all are tapping the brakes as in brazil. what we're having right now is a global growth slowdown. that's going to impact top line revenue growth. there isn't much cost to prune anymore. most of it has been cut. there's going to be some pressure on profits. the good news is the balance sheets for most multinationals are pristine and profits are high. we're good not going to sustain this sort of profit growth in this global economy."