IMF lifts economic growth forecast

Posted on 9/07/2009  

The International Monetary Fund has raised its forecast for global economic growth next year by 0.6 of a percentage point to 2.5%, but warns that recovery from recession will be sluggish. The improved world outlook for 2010 came as a survey showed a majority of Australian consumers believe economic conditions and their family finances will improve over the next year. It also showed that  52% of people expected house prices to rise over the next 12 months, up from just 32% two months ago. The improved attitude towards housing was particularly strong among people aged 35 to 54, indicating it was not just the euphoria of first-home buyers.

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