IMF has updated its October forecasts and lowered its growth projections. It says world economy is poised to grow by 4.1% in 2008 lower than 4.4% it projected in October 2007 outlook.
Basically, IMF has revised its estimates by 0.5% each year between 2002-07 as part of its International Comparison Program. It had estimated world economy to grow by 4.7% in 2007 but the recent report shows it has actually grown by 4.9%.
The economic outlook is here and financial market update is here
Advertisements
Leave a Reply