Mohamed El-Erian, chief executive of Pacific Investment Management Co., expects U.S. growth of 1.5% and worldwide growth of 2.25% over the next 12 months, Bloomberg News reported Thursday.

Mr. El-Erian said the recent figures in purchasing manager indexes in Europe and Asia are "frightening," Bloomberg reported.

He told Bloomberg that he believes the chance of a U.S. recession is roughly 25% to 33%.

-Write to nymonitoring@dowjones.com

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