Asia sunny, Europe cloudy

The IMF becomes more optimistic about the outlook for GDP growth this
year and next

THE IMF has become more optimistic about the state of the global
economy than it was in January. Then, the fund thought that the world
economy would grow by 3.9% this year. Now it has revised that estimate
up to 4.2%, saying that the recovery from the deepest post-war
recession has "evolved better than expected". The fund expects the
marked difference between economic performance in the rich and emerging
world to persist. In 2011, it expects GDP in industrialised countries
to grow by 2.4%, compared with 6.5% growth in emerging countries led by
booming China and India. Within the rich world, however, the divergence
between America and Europe is striking. The IMF reckons that the
American economy will expand by 3.1% this year, whereas the economies
of the euro are

a will grow by an anaemic 1%.

 

Apr 21st 2010

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