The Rising Influence of Rising Affluence

[DewDiligence]

IMF cuts global growth estimate:

http://online.wsj.com/article/SB10001424052970203806504577180762119432238.html

The global economy will expand 3.3%, this year, down from 3.8% last year, said the IMF, which in September had forecast 4% growth in 2012.

…Advanced economies, including the U.S., Japan, the U.K and the euro zone, are expected to expand by only 1.5% on average through 2013, a growth rate too sluggish to make a major dent in high unemployment levels. Growth in emerging and developing economies has slowed as European banks spend less abroad and euro-area demand contracts. The IMF forecasts those countries will expand as a bloc by 5.4% this year and 5.9% next year, shaving more than half a percentage point off their growth estimates. The fund lowered China's growth by nearly a percentage point to 8.2% for the year, down from a previous forecast of 9%.

The 8.2% figure for China is consistent with the forecasts in #msg-70746527, #msg-70959130, and #msg-71084321.