July 11th, 2009IMF Projects Decline In World Economic Activity
The IMF just published their updated World Economic Outlook Update. 2009 continues to show a negative growth rate of -1.4%, but the IMF is predicting a 2.5% growth in economic activity for 2010. A few highlights are below, or check the full story at the link above.
- Russia has the lowest projected 2009 growth rate, at -7.5%. Mexico is second worst with a projection of -7.3%.
- The United States is expected to decline by 2.6% in 2009, but expected to grow by .8% in 2010
- The “Euro Area” (German, Spain, Italy and France) is expected to decline in 2009 (-4.8%) and 2010 (-.3%)
- Oil prices expected to decline by 37.6% in 2009, but rise 23.1% in 2010