The International Monetary Fund lowered its outlook for global growth this year as expansions weaken from China to the U.S. and military conflicts raise the risk of a surge in oil prices. The world economy will advance 3.4 percent in 2014, the IMF said, less than its 3.6 percent prediction in April and stronger than last year's 3.2 percent. Next year growth will be 4 percent, compared with an April forecast for 3.9 percent, the fund said. "Global growth could be weaker for longer, given the lack of robust momentum in advanced economies" even as interest rates stay low, the IMF said in an update to its World Economic Outlook report. "Monetary policy should thus remain accommodative in all major advanced economies." The IMF report reflected a world rattled by geopolitical risks that have risen since April, including the potential for "sharply higher oil prices" because of recent Middle East unrest. Growth in emerging markets is projected to be 4.6 percent this year, compared with an … [Read more...] about IMF cuts 2014 global forecast after slowdowns in China, U.S.
Today s forecast
Talk Around Town (12-12-2007) Climate change no forecast; it's a fact by Pham Van Trang Viet Nam Institute of Meteorology, Hydrology and Environment director Dr Tran Thuc delivered a prophetic message about climate change at a workshop in HCM City last week. The increase in the country's yearly average temperature was about 0.1 degree Celsius for each decade, he told the gathering to discuss climate change and human development. But in some summers the rise was as high as 0.3 degrees Celsius. The result had been a rise in sea levels of 2.5cm-3cm during each decade of the last century. The dry season was drier and the wet season wetter, especially in central and southern Viet Nam. Climate change is no longer a forecast; it's a fact. As a result of the rise in sea levels, tides in HCM City during November matched a record that had stood for 48 years. Future land losses are foregone. More seriously, the unpredictable outcome of climate change has included unexpected changes to nature. … [Read more...] about Climate change no forecast; it’s a fact
Singapore raised its growth forecast for 2013 after the economy unexpectedly expanded last quarter, supporting the central bank's decision to forgo stimulus for the Southeast Asian nation. The economy will grow 3.5 percent to 4 percent in 2013 and expand as much as 4 percent next year, the trade ministry said in a statement today. It had previously forecast growth of as much as 3.5 percent in 2013. Gross domestic product expanded an annualized 1.3 percent last quarter from the previous three months, compared with a 1 percent decline estimated earlier. Asian economies are benefiting from a demand pickup aided by the U.S. Federal Reserve's extension of monetary stimulus even as global risks remain from budgetary wrangling in Washington and a nascent recovery in Europe. Trade-dependent Singapore said today exports will rebound in 2014 after contracting this year, easing pressure on the central bank to allow its currency to weaken to support overseas shipments. "We are in an … [Read more...] about Singapore raises 2013 GDP growth forecast on manufacturing
Sea levels are rising 60-percent faster than the UN's climate panel forecast in its most recent assessment, scientists reported on Wednesday. Buildings are seen near the ocean as reports indicate that Miami-Dade County in the future could be one of the most susceptible places when it comes to rising water levels due to global warming in March 2012 in North Miami, Florida. … [Read more...] about Seas rising 60 per cent faster than UN forecast: study
A succession of forecasts about impending storms and floods have gone awry but the weather chief blames it on inadequate staffing and equipment. A motorcycle breaks down on a flooded street in Khanh Hoa Province's Nha Trang Town. … [Read more...] about Flood toll rises, off-mark forecasts questioned