Economist Intelligence Unit lists 29 countries that will contract in 2009
Dec 18th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The global financial crisis will continue to have a very damaging impact on the global economy in 2009, resulting in a sharp slowdown in economic growth that will spare few countries. According to 2009: country by country, just published by the Economist Intelligence Unit, 29 countries—mostly developed markets, but also some major emerging markets—will experience economic contractions in 2009. The report predicts that global GDP growth (at market exchange rates) will be just 0.9% in 2009. China will be the fastest-growing major emerging market, although even it will see its growth rate ease substantially.