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World growth ‘worst for 60 years’

Posted By admin On January 28, 2009 @ 11:22 am In 1,Money Watch | Comments Disabled

BBC News [1]
Wednesday, January 28, 2009

World economic growth is set to fall to just 0.5% this year, its lowest rate since World War II, warns the International Monetary Fund (IMF).

In October, the IMF had predicted world output would increase by 2.2% in 2009.



It now projects the UK, which recently entered recession, will see its economy shrink by 2.8% next year, the worst contraction among advanced nations.

The IMF says financial markets remain under stress and the global economy has taken a “sharp turn for the worse”.  

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