A threat of double-dip recession is stalking the world economy. Advanced economies are struggling to raise insipid growth rates, while the fast-growing emerging economies cannot maintain their previous momentum. If anything goes wrong – and there are known potential shocks in the coming months – the risk is rising of a dangerous economic slide.

The Brookings Institution-Financial Times Tracking Indices for the Global Economic Recovery shows a steep drop in 2012 so far, leading professor Eswar Prasad of Brookings to describe the global economy as “on the ropes”.

In the International Monetary Fund’s twice-yearly World Economic Outlook, published this week, Olivier Blanchard, the fund’s chief economist, said the world economy was hamstrung by uncertainty, which was preventing companies from investing and households from spending.