Wednesday, September 21, 2011

Still Dropping

The world economy has entered a "dangerous new phase" of sharply lower growth, the International Monetary Fund (IMF) has warned.

Olivier Blanchard, the IMF's chief economist, said late on Tuesday that the global economy's "recovery has weakened considerably", adding that "strong policies are needed to improve the outlook and reduce the risks".

The IMF expects the US economy to grow just 1.5 per cent this year and 1.8 per cent in 2012, down from its June forecast of 2.5 per cent in 2011 and 2.7 per cent next year.

As a result, the international lending organisation has sharply downgraded its economic outlook for the US and Europe through the end of next year.


....but hey, do what you will anyway.

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