Tuesday, 18 December 2012

IMF raises 2013 growth forecast

The IMF has raised its forecast for economic growth next year, based on an interview of managing director Christine Lagarde by Chile's La Tercera newspaper on Sunday. Reuters reports:

“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.

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