The International Monetary Fund, or IMF, recently announced that its previous forecast of 4.2% global growth for the year 2010 has been raised to 4.6%. This change was largely precipitated by increasingly robust growth in Asia. Many people around the globe are looking at this revision with optimism; unfortunately, however, the UK was one of the few countries whose growth was actually downgraded by the IMF. Indeed, the UK’s projected growth had been set at 2.5%; under the revised data, that growth is set at 2.1%. Needless to say, the UK is hardly rejoicing in these new numbers. However, if the economy of the world as a whole is picking back up, it should only be a matter of time before the good news spreads. (more…)
Posts Tagged ‘financial crisis’
Forecast For Global Growth in 2010 Raised
Friday, July 16th, 2010Pound at 19-Month High Versus Euro; Tensions Mount
Friday, July 16th, 2010Renewed pressure is being placed on the euro, the 16-nation currency that is watched closely by financial analysts, as the British pound reached a 19-month high against it. Recently, the pound rose by half a cent, achieving a value of 1.2389 euros. This is the highest number that the pound has achieved since just after the financial crisis that occurred back in November of 2008. When combined with other recent news, including declines in many markets and banks that are scrambling to repay low-interest loans, the increasing value of the pound versus the euro is being viewed with concern. While thousands of people in the UK turn to cash advance services to weather this financial storm, it remains unclear whether or not the tide will soon turn. (more…)
