BERLIN: There is a good chance a recession in the United States can be avoided, which will limit the negative impact on the slowing global economy, the Bundesbank said on Monday.

"From today's perspective, there's a good chance the US economy can avoid the descent into recession some have been fearing, and thus that the negative effects on the world economy will be less marked," the bank said in its monthly report.

Nevertheless, it was unclear how soon the difficulties facing the United States would be surmounted, it added. "The pressure to adapt caused by the turmoil in the US real estate market is still high, and the situation on financial markets remains prone to mishap despite some rays of light," the German central bank said.