Wednesday, April 22, 2009

A Significant Global Growth Contraction in 2009

The latest world economic outlook by the IMF is out. The fund is forecasting that global real GDP growth likely to contract in 2009:

“In the most severe recession since World War II, the global economy is projected to shrink by 1.3 percent in 2009, with a slow recovery expected to take hold next year, according to the IMF’s April World Economic Outlook (WEO).
While the rate of contraction should moderate from the second quarter of 2009 onward, output per capita is projected to decline in countries representing three-quarters of the global economy. Growth is projected to reemerge in 2010, but at 1.9 percent it would be sluggish relative to past recoveries.”

Source: Global Economy Contracts, With Slow Recovery Next Year (IMF)

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