The U.S. economy grew nearly 6 percent in the fourth quarter of 2009, the Commerce Department reported Friday. This higher-than-expected number, however, was not due to more commerce, but rather to increased manufacturing to replenish depleted inventories.
The U.S. isn’t alone with good economic news this week. China announced that its economy grew 8.7 percent in 2009 and Britain raised its growth forecast for 2010. Not to be outdone, India’s finance ministry is forecasting 8.75 percent growth for the coming fiscal year.
Globally, the World Bank anticipates 2.7 percent growth in real GDP in 2010 and 3.2 percent growth in 2011. As it has in recent years, the emerging world should lead this growth trend.
The graphic from Visual Economics supports the emerging markets growth story. The World Bank forecasts that real GDP growth in the developing world will grow 5.2 percent and 5.8 percent in 2010 and 2011, respectively. This is double the expected growth rate for the U.S. and three to four times the pace foreseen for the eurozone.
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