Global Economic Forecasts from Wachovia

November 13, 2008

By MoneyRates Team | Money Rates Columnist

The latest economics forecast from Wachovia Economics Group has been released and includes predictions for negative economic growth in the United States and Europe for 2009 with a return to positive growth in 2010. The forecasts calls for continued growth in some Pacific Rim countries and South American countries contributing to a global growth rate of 1.9%, the lowest global growth rate since 1991. The 1.9% forecast is well-below the mark of some other major economists who have pegged global growth as low as -3%, but without the detailed breakdown and analysis of the report from Wachovia.

United States GDP Forecast

2009 -1.0%
2010 1.4%

Germany GDP Forecast

2009 -0.2%
2010 2.0%

France GDP Forecast

2009 -0.3%
2010 1.8%

Italy GDP Forecast

2009 -0.4%
2010 1.4%

United Kingdom GDP Forecast

2009 -1.0%
2010 1.5%

Japan GDP Forecast

2009 -0.5%
2010 1.6%

Canada GDP Forecast

2009 0.0%
2010 2.4%

China GDP Forecast

2009 8.0%
2010 8.8%

India GDP Forecast

2009 6.1%
2010 7.5%

Mexico GDP Forecast

2009 0.4%
2010 2.4%

Brazil GDP Forecast

2009 2.0%
2010 3.0%

The United States is still seeing net inflows into dollars, but many Americans have been diversifying after seeing the frightening economic forecasts for the US economy. Everbank, a bank in the United States, has been offering a variety of foreign-denominated currency products for anyone interested in speculating on the strength of a foreign currency versus the US dollar. More information about the EverBank products can be found on the Money-Rates.com EverBank Product Page.

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