| Publication |
2009.
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| Summary/Abstract |
The global economy is facing a very cheerless 2009. The OECD economies are sliding or already have slid into recession. Developing Asian countries face weaker demand for exports, lower flows of remittances and less investment. Lower energy prices may help some countries, but generally lower commodity prices hurt. The first table shows that the estimates of growth for 2009 fell as last year ended and the new one began. The countries more involved with international trade are clearly suffering the most with Singapore and Thailand expected to be in recession and Malaysia to eke out only slender growth. For some countries, the impact on growth may not seem horribly large, but these are moving targets and the bad news continues to come.
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