2009 Forecasts

With the present status of the world's largest economy, the United States, the IMF has released this week, on thursday, its forecast for the world on 2009.

The US, the world’s largest economy, will contract by 0.7 percent and the euro area by 0.5 percent in 2009. Advanced economies as a whole will contract 0.3 percent, compared to 1.4-percent growth this year, it said.

All figures represent a downward revision of more than 0.7 percent from the IMF’s October forecast.

Developing and emerging economies by contrast will continue to lead growth in the world, increasing 5.1 percent in 2009. But that is still down from a forecast of 6.1 percent made in October. Growth in the developing world was forecast at 6.6 percent this year.

The figures sum up Global recession in 2009 but the Philippines and India has a more optimistic approach with the business outsourcing industry.