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AUTOMOTIVE SWEDEN
NEWSLETTER
Economic growth on the rise, but with uneven distribution
The International Monetary Fund (IMF) has released a World Economic Outlook for global growth in 2010. In brief, the conclusion was that recovery has begun, but is proceeding at varied speeds. Eastern Europe shows the slowest growth, but Greece can also expect a shrinking economy in 2010 and 2011.
In Asian countries, production numbers are now higher than pre-recession figures. Brazil and India have made surprisingly quick recoveries. China's economy is expected to increase by 10% in 2010, with similar figures expected for 2011. The imbalances in the global economy remain, but have decreased. China has decreased its excess savings and the US has reduced its deficit. However, there is a risk that the imbalances will increase as the financial situation improves. IMF is therefore challenging China to continue to stimulate domestic consumption. The stock that was liquidated at such a rapid pace during the recession is now being built up again, and this is what is driving the economy forward. To what extent the increased financial growth rate is due to an actual increase in demand is therefore difficult to determine. The global economy is expected to grow by 4.2% this year and 4.3% in 2011, according to IMF.
 
Hans Nyman
Automotive Sweden
maj 18 2010
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