World economic growth for 2009 to be the worst since World War II
According to the BBC’s report on 28th Jan 2009, the IMF reported that the world’s economic growth will fall to just 0.5% in 2009, the lowest rate since World War II.
In contrast, back in October 2008, the IMF had predicted 2.2%.
It now says that the United Kingdom’s economy will shrink by 2.8% in 2010.
That is the worst among all the advanced nations.
The eurozone economy is predicted to shrink by 2% and the US economy by 1.6%.
On the same day the International Labour Organization (ILO) said that up to 51 million people could be laid off in 2009 as a direct result of the current economic crisis which is gripping both developed and developing countries.
Other developed economies now in recession are Japan and Spain.
Even China is now struggling with the sudden lack of demand from their primary export markets.
Source
The BBC, 28 Jan 2009
… that’s it, no more expensive toys …
One Response to “World economic growth for 2009 to be the worst since World War II”
By johnny ong on Feb 3, 2009 | Reply
the stats from other parts of the world are certainly not good to hear