EU Carbon Drops to 3-Month Low as Global Economy Seen Slowing

Carbon allowances in the European Union emissions-trading system fell to their lowest price in almost two weeks as global growth may drop compared with the period before the recession.

Economic growth may average 3.25 percent to 3.5 percent in the next three to five years, well below the 4.7 percent pace of the five years leading to the 2008 slump, Stephen Roach, non-executive chairman of Morgan Stanley Asia, estimated last week.