World Bank: Global Economy Will Contract 3% in 2009

The World Bank is forecasting that the world’s economy will contract close to 3% in 2009.

Previously, the Bank had forecast a 1.75 % contraction, but rising unemployment and underutilization of capacity have depressed the global economy more than expected.

For background, read Professor Eichengreen and O’Rourke’s essay showing that the global downturn is worse than during the Great Depression.

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  • I feel surprised to find on this inspired blog dedicated to promote real understanding between each other and therefore peace in the World to discover an advertisement for " Holy War ".( Even if it's a game it's still promoting the confusion between war and game )I hope we can all together add coherence of acting to our determination of speaking.With kindest regards,Pierre