"World economic growth
is expected to slow next year, with recent turbulence in financial markets triggered by the fallout from the U.S. subprime mortgage market clouding prospects, the IMF said in the October 2007 World Economic Outlook (WEO) released on October 17." IMF Survey: IMF Forecasts Slower World Growth in 2008 (external - login to view)
in 2009 is expected to fall to ½ percent when measured in terms of purchasing power parity and to turn negative when measured in terms of market exchange rates (Table 1.1 and Figure 1, view: Data Figure 1). This represents a downward revision of about 1¾ percentage point from the November 2008 WEO Update. Helped by continued efforts to ease credit strains as well as expansionary fiscal and monetary policies, the global economy is projected to experience a gradual recovery in 2010, with growth
picking up to 3 percent." IMF World Economic Outlook (WEO) Update -- Global Economic Slump Challenges Policies, January 2009 (external - login to view)
"The world economy is stabilizing, helped by unprecedented macroeconomic and financial policy support. However, the recession is not over and the recovery is likely to be sluggish. Following a disappointing first quarter, during which the global economy contracted almost as fast as during the fourth quarter of 2008, (Figure 1, Data Figure 1), high-frequency data point to a return to modest growth
at the global level (Figure 2, Data Figure " IMF World Economic Outlook (WEO) Update -- Contractionary Forces Receding But Weak Recovery Ahead, July 2009 (external - login to view)
"Following the deepest global downturn in recent history, economic growth
solidified and broadened to advanced economies in the second half of 2009. "
"Recovery is proceeding at varying speeds
Output in the advanced economies is now expected to expand by 2 percent in 2010, following a sharp decline in output in 2009. The new forecast reflects an upward revision of 3/4 percentage point. In 2011, growth
is projected to edge up further to 2½ percent. In spite of the revision, the recovery in advanced economies is still expected to be weak by historical standards, with real output remaining below its pre-crisis level until late 2011. Moreover, high unemployment rates and public debt, as well as not-fully-healed financial systems, and in some countries, weak household balance sheets are presenting further challenges to the recovery in these economies.
in emerging and developing economies is expected to rise to about 6 percent in 2010, following a modest 2 percent in 2009. The new projection reflects an upward revision of almost 1 percentage point. In 2011, output is projected to accelerate further. Stronger economic frameworks and swift policy responses have helped many emerging economies to cushion the impact of the unprecedented external shock and quickly re-attract capital flows.
Within both groups, growth
performance is expected to vary considerably across countries and regions, reflecting different initial conditions, external shocks, and policy responses. For instance, key emerging economies in Asia are leading the global recovery. A few advanced European economies and a number of economies in central and eastern Europe and the Commonwealth of Independent States are lagging behind. The rebound of commodity prices is helping support growth
in commodity producers in all regions. Many developing countries in sub-Saharan Africa that experienced only a mild slowdown in 2009 are well placed to recover in 2010. Growth paths are diverse for advanced economies as well." IMF World Economic Outlook (WEO) Update -- A Policy-Driven, Multispeed Recovery, January 2010 (external - login to view)
Quote: Originally Posted by petros
Your hair grew, was cut and regrew. You don't have "new hair". It's the same hair that regrew.
roflmao Yeah, ok. You don't grow new hair. Somehow the old hair that you cut off gets back into your head and sprouts all over again. No new hair cells there. Riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiight.