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"IMF raises global growth estimate"
Posted July 9, 2010 by Lindsay Roberts
By: James Pomfret and Kelvin Soh, Maktoob Business
The International Monetary Fund (IMF) raised its 2010 global growth forecast to 4.6% (from 4.2%); highlighting expansion in Asia and increasing U.S. private demand, while citing possible threats to economic recovery due to the European Union’s debt crisis. The IMF does not foresee a double-dip world recession, but emphasizes the euro zone’s deep economic ties around the world, weak U.S. housing and labor markets and the slowing growth of manufacturing activity in Asia as impediments to a fast recovery. Additionally, the IMF noted that developing countries continue to experience the largest economic growth.
