Thursday, 2 April 2009

World Bank growth estimates have large downwards revision

The World Bank has published its revised estimates of world growth here (then the forecast link for the country tables). Its 2009 estimates have dropped 2.6 percent in five months to a global contraction of 1.7 percent. Sub-Saharan Africa is projected to grow 2.4 percent. The richer countries are predicted to really decline: the US down 2.4 percent, the Euro area down 2.7 percent, and Japan down 5.3 percent.

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