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Imf Says We're All Okay

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http://www.marketwatch.com/story/global-re...ry-sluggish-imf

Jul 8, 2009, 9:00 a.m. EST

Global recession ending, recovery sluggish

Greg Robb

WASHINGTON (MarketWatch) -- The global economy is beginning to pull out of recession but the recovery is expected to be sluggish, according to the latest economic update from the International Monetary Fund released Wednesday. The IMF raised its forecast for growth in 2010 to a 2.5% rate, which is higher than the 1.9% growth rate forecast in April. There is much less concern about systemic failure in the financial system. A gradual recovery in the U.S. seems on track, the IMF said. Japan is stabilizing after a dismal first quarter. Growth in the euro-area is expected to strengthen more slowly than elsewhere. Inflation pressures remain low, the agency said. Risks for sustained deflation are small.

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http://www.marketwatch.com/story/global-re...ry-sluggish-imf

Jul 8, 2009, 9:00 a.m. EST

Global recession ending, recovery sluggish

Greg Robb

Phew that's Ok then ............ I wonder why all these people keep changing their minds, they must all read the Express or something.

April 2009

IMF Predicts Long Housing Slump

Britain's homeowners must brace themselves for a prolonged slump in the housing market, according to the International Monetary Fund, which delivered a grim assessment of the UK economy this weekend, in stark contrast to Alistair Darling's prognosis.

While the chancellor insisted in last week's budget that he expected to see green shoots before the year is out, the Washington-based lender believes the housing crash is far from over, with property still over-valued.House prices have already fallen by around 20% in the UK; but despite the rising optimism of Britain's estate agents, the IMF said the housing downturn in the UK, and equally damaging crashes in Ireland and Spain, probably have "a considerable distance left to run".

Its experts pointed out that the boom in the UK was bigger than the bubble in America. House prices in the US have been falling since 2006, but the pace of decline is still increasing.

With the catastrophic loss of wealth from falling house prices weighing on people's confidence, the IMF expects recession in the UK to continue well into 2010. Britain is also dogged by higher inflation than in any other major economy, at 1.5% this year.

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Imf Says We're All Okay.

Kind of them but I already knew I was OK.

Everyone else know they are OK?

Excellent.

EDIT:- I didn't think KP's exit was OK though. What a stupid shot.

Edited by Laura

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Kind of them but I already knew I was OK.

Everyone else know they are OK?

Excellent.

EDIT:- I didn't think KP's exit was OK though. What a stupid shot.

Oh Laura, you always talk so much sense. How's about you and me gettin' hitched?

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Recession will be over by Christmas, says IMF

Britain’s recession will end this year, with the economy returning to anaemic growth in 2010, the International Monetary Fund (IMF) said yesterday, as it upgraded its view of prospects for the UK and other leading economies.

In a boost for Alistair Darling’s predictions that Britain’s worst postwar slump will be over by Christmas, the IMF sharply raised its UK forecasts for next year.

It now predicts insipid growth of 0.2 per cent, compared with the 0.4 per cent decline that it expected in April and with a savage 4.2 per cent slump still projected for this year.

The Chancellor will welcome the fund’s backing for his hopes for an imminent end to the recession, but the IMF’s growth projection falls a long way short of Mr Darling’s bet on a much stronger expansion, of between 1 and 1.5 per cent — a blow to the Government’s hopes of fighting an election next year framed by recovery.

Meeting in L’Aquila in Italy, G8 leaders from the Group of Seven key Western economies plus Russia echoed warnings from the IMF that although the world is beginning a long haul out of its slump, a frail recovery could still be derailed by persistent and grave threats to prospects.

The G8 leaders conceded the lurking danger of a “double dip†downturn in agreeing that it was still too early to begin to unwind the unprecedented emergency measures they have taken to tackle the deepest recession in living memory.

“Significant risks remain to economic and financial stability,†the G8 said. The summit concluded that “exit strategies†from present emergency action should be put into effect only “once the recovery is assuredâ€.

In its report, the IMF warned that: “Despite positive signs, the global recession is not over and the recovery is still expected to be slow.â€

It said that a world upturn was set to be “sluggish†and patchy, with some countries recovering markedly better than others.

Over by xmas says the times. It's like WW1 all over again.

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