“The overall (global) outlook for 2013 is for growth of 3.6 percent on average. We believe emerging economies and low-income economies will expand 5.6 percent, while advanced economies will grow 1.6 percent,” Lagarde said, according to the newspaper.
However, growth in the US may be lacklustre for a while.
The Federal Reserve Bank of New York’s general economic index fell to minus 8.1 in December from minus 5.2 in November, according to a report on Monday. It was the fifth consecutive decline in the index.
Federal Reserve Bank of Richmond President Jeffrey Lacker sees weak growth extending into next year. From Bloomberg:
“My best guess is that growth will continue into next year at an annual rate of 2 percent and that beyond 2013 we should see growth begin to firm,” Lacker said to the Charlotte Chamber of Commerce’s annual economic outlook conference.