The International Resource Journal: G7 recovery still on course

G7 recovery still on course
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admin on 10 March, 2010 11:39:00
 
IRJ Mar 10 - A distinct lack of momentum will drag on the rich world's economic
recovery this year, according to analysts who say economists largely bucked a
recent trend of rising forecasts.
Median forecasts from the survey of around 250 economists showed slight downward
revisions to 2010 quarterly growth forecasts for the United States, while those
for Britain and Japan were mostly unchanged from February's poll. Predictions
for recovery had been improving steadily since last year in tandem with an
explosive stock market rally.
But with increasingly confused economic data now clouding the outlook,
forecasters also pushed back expectations for interest rate hikes in the U.S.
and euro zone—again bucking a trend for more aggressive forecasts to tighten
monetary policy.