IMF pegs 2005 global growth at 4.3%
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The International Monetary Fund (IMF) yesterday cut its 2005 outlook and warned that the high price of oil threatened to curb global economic growth, which it said would be the strongest this year for almost 30 years.
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The world&#39;s developing countries this year will turn in the strongest economic growth in three decades and should continue to enjoy solid expansion in 2005 and 2006, the World Bank predicted Tuesday.
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Exports help raise Q4 GDP to a stronger-than-expected 3.5%
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The International Monetary Fund has cut its forecast for global growth next year slightly amid expectations that the U.S. and Chinese economies will not expand as strongly as previously thought.
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Washington, Sept. 30.(UNI): The expansion of the global economy could hit a 30-year record in 2004 but will likely slide in 2005 as a result of higher oil prices and other factors, the International Monetary Fund (IMF) sources said.
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The International Monetary Fund lowers its forecasts for global economic growth but does not predict a recession.
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The developing countries will enjoy the strongest economic growth in three decades this year and should continue to enjoy solid expansion in 2005 and 2006, the World Bank predicted on Tuesday.
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The International Monetary Fund expects to lower its projection for global economic growth in 2005 to about 4 percent, due in part to rising oil prices, the agency's managing director said Monday.
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Under the new forecast, gross domestic product will grow by 3.1 percent, as measured from the fourth quarter of last year to the fourth quarter of this year, down from a June projection of 3.6 percent
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The economy grew 2.8 percent in the fourth quarter, the fastest rate in 18 months, lifted by household spending and a boom in construction and mining, the government statistics bureau said. But the treasurer, Peter Costello, said a drought, the worst in a century, had weighed on farming. Gross domestic product grew 2.8 percent from the fourth quarter of 2005 and by 1 percent from the third quarter, the bureau reported. The result surprised most market analysts, who had expected interest rate increases to constrain growth. Analysts had expected growth of 2 percent.
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Despite the strongest global economic growth since the 1970's and outsized gains in corporate profits, 2004 was a decidedly ho-hum year for international stock markets.
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China&#39;s real gross domestic product (GDP) is projected to average around 9 percent in 2004 andto slow to about 7.5 percent in 2005, the International Monetary Fund (IMF) said Wednesday.
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The global economy is set for another  year of strong growth, the International Monetary Fund said on  Thursday, but it warned that rising inflationary pressures and  a slowing U.S. economy were growing dangers.
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The IMF says that global economic growth is likely to be dampened by the turbulence which has swept world markets.
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WASHINGTON : The world economy, powered in part by China, will grow this year at its briskest pace in almost three decades - five percent - before losing steam in 2005 in the face of higher oil prices, the IMF said on Wednesday.
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The global economy should register its strongest growth in 30 years in 2004 despite soaring oil prices, which are expected to restrain the US expansion a bit, the International Monetary Fund said Wednesday.
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Australia's economy is well positioned to ride out the turbulence in world financial markets and will grow around 4.4 percent this fiscal year, the International Monetary Fund said Thursday.