IMF Sees Global Economic Output Up 4.9% In Both '07 And '08

11 April 2007
http://www.fundsupermart.com/main/research/viewSectorPrint.tpl?articleNo=6040

Summary:

• Demand in Europe, Japan and developing countries like China and India has offset weaker growth in the U.S. Downside risks to the outlook have receded.
• Forecast for US GDP growth this year is 2.2%, whereas for 2008 is 2.8%
• Much of the U.S. economic slowdown has been concentrated in the housing market, trading partners beyond Canada and Mexico haven't been affected much
• Forecasts for China is 10% for 2007, but raised projections for India sharply higher for both this year and next.
• Assumption that oil prices would fall 5.5% to an average of $60.75 a barrel this year and then rise 6.6% in 2008.