Revised IMF Growth Forecasts
July 8, 2010
Emerging markets will continue to power 4%+ growth in world GDP, according to new forecasts from the IMF. In 2010, China, India and Brazil are projected to expand by over 10%, over 9%, and over 7%, respectively. Forecast for each of those BRIC economies was revised above prior estimates crunched in April. Economic growth among advanced economies is expected to average 2.5% this year and next but with a considerable dispersion depending on the region.
- In North America, IMF officials project Canadian growth of 3.6% in 2010 followed by 2.8% in 2011. The United States is seen climbing 3.3% this year and 2.9% next year.
- Projected Japanese GDP growth of 2.4% in 2010 is forecast to moderate next year to a downwardly revised 1.8%.
- Europe will trail behind. Fiscally strapped Euroland will experience only a 1.0% rise of GDP in 2010, edging up to 1.3% in 2011. Over the two years, growth is forecast to average 1.5% per annum in Germany and France, 1.0% in Italy and to be negative 0.4% followed by positive 0.6% in the bloc’s fourth biggest member, Spain. Growth of 1.2% in 2010 and 2.1% in 2011 has been penciled in for Britain.
Copyright Larry Greenberg 2010. All rights reserved. No secondary distribution without express permission.
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