IMF More Upbeat on 2010 Recovery |
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July 8,2009
Worldwide economic growth is expected to recover to 2.5% in 2010, says the International Monetary Fund (IMF).
Worldwide economic growth is expected to recover to 2.5% in 2010, says the International Monetary Fund (IMF).
That is higher than the IMF's earlier estimate of 1.9% growth next year, made in April, with the increase expected to be led by India and China.
But the IMF still expects the global economy to contract 1.4% this year.
For the UK, the IMF has revised down its 2009 economic forecast by 0.1% to -4.2%, but it now expects the economy to expand by 0.2% next year.
The IMF had previously said it expected the British economy to contract by 0.4% in 2010.
Its latest estimates for the UK are consistent with those from the Organisation for Economic Cooperation and Development, but much weaker than forecasts from the government and many independent analysts.
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