Macroeconomic indicators - Global GDP to grow more than 4pct in 2011 - IMF

Argus reported that the global economy continues to recover from the financial crisis but growth in the advanced economies remains subdued, while activity in emerging nations shows some signs of overheating. 

According to IMF's January World Economic Outlook, world GDP will grow 4.4% in 2011 and another 4.5% in 2012. IMF economists had been looking for world output to slow from the 5% growth rate seen in 2010. 

But their new projection for 2011 is slightly more robust than the 4.2% they were estimating just three months ago, spurred upwards by stronger than anticipated activity in the second half of 2010 and a sizeable tax cut in the US. 

Oil prices are expected to rise by 13% in 2011, with an average of Brent, WTI and Dubai crude benchmarks expected to fetch USD 89.50 per barrel, up from USD 78.93 per barrel in 2010. The IMF is looking at oil prices to rise only slightly higher next year, to USD 89.75 per barrel. 


information from www.argusmedia.com