A few pretty awful highlights culled from the IMF's latest World Economic Outlook:
- World growth is projected to fall to just half of one percent in 2009, its lowest rate in 60 years.
- Potential losses in U.S. originated credit assets held by banks and others are estimate at $2.2 trillion, up from $1.4 trillion last October.
- In India, growth is expected to slow to 5 percent, while China is expected to slow to 6.75 percent.
- Deflation is now a risk.
- The IMF's answer for worsening economic woes? More stimulus, pretty much everywhere.
For a more on China today see Floyd Norris, and for an even worse prediction on banking troubles there is (as always) NYU's Nouriel Roubini, who puts banking losses at $3.6 trillion.
Jeff of WI @ Jan 29, 2009 05:18:02 AM