(CNN) -- CNN's Recession-o-meter -- our unscientific poll of financial experts at the World Economic Forum at Davos -- has spoken. And it's decided that the world economy is in slowdown, not recession.
CNN anchor Richard Quest updates the recession-o-meter.
Correspondent Richard Quest has been putting big business figures and other experts on the spot at the World Economic Forum in Davos, pushing them to predict financial outlook.
By the close of play on Friday, those believing that the global economy was in slowdown had edged out those who think it is in recession by 26 votes against 18.
Several big names weighed in on the side of recession, including James Quigley CEO of Deloitte, but most were cautious, with Merrill Lynch chief John Thaine leading the downturners.
Quest said the results were a surprise after an early lead in recession votes. "As the week wore on, the slowdowners crawled out from under their rocks. They gathered and battled back. In the latter part of the week people sailed into the safe harbor of slowdown," he said. Watch round-up of Quest's interviews »
Keep checking here for video updates of the verdicts which will be added throughout the day.
"I think that the steps that the Fed is taking, the steps that the administration is taking, are the right steps, they will help, but the economy is still going to slow."
"I think the Fed should ignore interest rates and realize that if it has a stable dollar, interest rates fall on their own."
"I think the more we talk about a recession, the more there is a risk of it happening."
"There is a black cloud hanging over the market right now."
"I don't know if it is a special effect or a gimmick yet. So all I see is a slowdown at the moment. I don't see a recession."
Muhtar Kent, President of Coca-Cola »
"You can't predict the future. What you can do is run your business the best way you can and with a long-term view."
"I believe there is going to be a slowdown not a recession. I am optimistic."
"I have enormous confidence in the giant size of the American economy and it's ability to recover."
"The world is connected and separated at the same time. These emerging economies have built their own markets, their financial infrastructures are stronger and I believe they can weather the storm."
"We think the best is for people to expect more volatility. And why is that? Because there are no physical problems: you don't wait to fill up gasoline, anywhere. But there's a lot of speculation going. So it's just the mood of the market. So you could say there's more psychology in the price, than problems with the physical flow."
"We hope that the stimulus that has been given by the cut in interest rates by the Fed will help to ward off worse times."
"We're drafting both scenarios, but I would still put (my money) on a slowdown."
"I am sorry to say -- recession!"
"I believe we need to focus on the long-term and the talent agenda and those things we need for a competitive economy going forward."
"I believe that there is still more to come. We're in a market-based economy, where we're looking at fair-value accounting and marking instruments, to the markets. And, that can be brutal."
"The risk factor in the financial services was forgotten, it's back in there and that has caused so much of the problem."
"I have certainly been in the hoping for a slowdown category, but ...I think the psychology has shifted enough that I am in the recession category."
"I think the U.S. is heading for a major slowdown and that that is going to affect growth everywhere!"
Watch more of CNN's Davos coverage on the state of global economies
WEF founder Klaus Schwab talks to CNN's Charles Hodson »
Listen to what CNN's correspondents think
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