RGE Monitor, the firm founded by economist Nouriel Roubini, yesterday raised its growth forecasts for Asia, including China and India. The change is based on an improvement in global conditions in the second quarter of 2009, aggressive policy responses by governments and the fact that manufacturing activity in several countries has bottomed out. Inventory re-stocking, stimulus measures and global risk appetite will also temporarily boost Asia's growth, RGE said.
However, RGE continues to believe global growth will contract until late 2009 or early 2010. Its forecast is that global growth will contract by 1.9% in 2009 and that economic growth in the United States, the European Union and Japan the G-3 will be sluggish. RGE...
¬ Haymarket Media Limited. All rights reserved.
