Ray of Light: IMF Ups 2010 Global Growth Forecast to 3.9%

Filed under: International markets, Forecasts, Good news

Tuesday's upbeat data point: the International Monetary Fund is now forecasting that the global economy will grow 3.9% in 2010, up from the earlier forecast of 3.1% growth in October 2009.



The global economy grew a scant 1.3% in 2009, equivalent to a global recession -- the world's first since the end of World War II. The IMF also expects the global economy to growth 4.3% in 2011.



What's more, the IMF also raised its 2010 GDP growth forecast for the United States to 2.7%, up from the earlier 2.6% estimate. The U.S. economy contracted 0.3% in 2009, using the IMF's methodology and data. Meanwhile, the developed world is expected to growth 2.1%, in 2010, after an -0.7% contraction in 2009.



China's economy is expected to grow 10.0% in 2010, leading a 6.0% emerging market rebound. The IMF sees India growing 7.7%; Russia, 3.6%; Brazil, 4.7%; Mexico, 4.0%.

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Ray of Light: IMF Ups 2010 Global Growth Forecast to 3.9% originally appeared on BloggingStocks on Tue, 26 Jan 2010 18:30:00 EST. Please see our terms for use of feeds.

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