World Economic Outlook Update

World Economic Outlook Update: IMF

  • Global growth is projected to increase during 2013
  • Upturn is projected to be more gradual than projected in the October Update
  • In the euro area, the return to recovery after a protracted contraction is delayed. The near-term outlook for the euro area has been revised downward. Activity is now expected to contract by 0.2 percent in 2013 instead of expanding by 0.2 percent.
  • Economic conditions improved modestly in the third quarter of 2012
  • Global financial conditions improved further in the fourth quarter of 2012. However, a broad set of indicators for global industrial production and trade suggests that global growth did not strengthen further.

IMF revises forecast down

World Economic Outlook: IMF

  • Global growth projected at 3.3 percent this year and 3.6 percent in 2013
  • Advanced economies are projected to grow by 1.3 percent this year, compared with 1.6 percent last year and 3.0 percent in 2010
  • Growth in emerging market and developing economies was marked down compared with forecasts in July and April to 5.3 percent, against 6.2 percent last year
  • Growth in the volume of world trade is projected to slump to 3.2 percent this year from 5.8 percent last year and 12.6 percent in 2010