| From Money Web: In its October World Economic Outlook the International Monetary Fund warns that global growth will slow to 3% in 2009, down from 5% in 2007. Summing up the dismal events of recent weeks, the WEO report says, "Global activity is being buffeted by an extraordinary financial shock and by still-high energy and other commodity prices.
Many advanced economies are close to or moving into recession, while growth in emerging economies is also weakening." Against this backdrop, warns the IMF, world economic growth must inevitably slow. Says the report, "On an average annual basis, global growth is expected to moderate from 5% in 2007 to 3,9% in 2008 and 3% in 2009, its slowest pace since 2002.".... Full Article: Source
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