IMF Downgrading 2010 & 2011 Growth Forecasts, No Double-Dip Recession

Growth in advanced economies is expected to be 2.7% in 2010 and 2.2% in 2011, but economic slack is expected to remain substantial and unemployment persistently high for some time.  Emerging and developing economies are projected to grow at 7.1% in 2010 and grow by 6.4% in 2011.

The big changes that are lower than the projections made in July come to the United States, Mexico, and Central and Eastern Europe.  What is interesting is that it seems that if the U.S. is still leading the global gravy train that the IMF is looking for more internal growth rather than dependent growth… or the IMF may need to downgrade growth projections later.

Here is a chart outlining the changes expected in the world countries and regions:

JON C. OGG