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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…)