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Asia sunny, Europe cloudy
The IMF becomes more optimistic about the outlook for GDP growth this year and nextApr 21st 2010 | From The Economist online
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 area will grow by an anaemic 1%.
