Brightening Up
According to the IMF, who recently released its latest World Economic Outlook – the global economy is likely to expand by 4.2% in 2010. But economic performances will vary around the world – America’s forecast was revised and upped 0.4% to 3.1%. The euro area unfortunately saw no change, but estimations that it may only grow by 1% in 2010 and 1.5% in 2011. Emerging markets in central and eastern Europe growth rates were increase by 0.8%. With developing Asia still looking at a strong recovery, and both India and Brazil most likely to perform better this year than anticipated, 8.8% and 5.5% growth rates respectively. The overall picture is remarkable but given the depth of the recession, only time will tell.
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