Credit system of England: World economic outlook from the IMF: just how bad will things get?

The world economy has deteriorated sharply in the last few months as
the eurozone crisis dragged down the global recovery, according to the
latest predictions from the International Monetary Fund.

The IMF slashed its forecasts for economic growth in its new World
Economic Outlook, released today. It now expects the
eurozone to shrink during 2012, and warned that the eurozone crisis
will drag down growth in other nations too.

The data shows the effect of fiscal austerity - Italy is expected to
suffer a 2.2% contraction in 2012, while Spain is tipped to shrink by
1.7%. That means that total euro area GDP will fall by 0.5% this year
- down from a previous forecast of 1.1% growth.

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The UK's growth forecast was cut back sharply for 2012, to just 0.6%
from 1.6% in the IMF's last forecast.

Just one country or region avoided having its economic forecast for
2012 cut. The IMF still believes America's GDP will grow by 1.8% this
year. The US has prioritised economic stimulus measures over fiscal
cutbacks - following the deal that will allow its national debt to
grow into the next presidential term.

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However the developing world and the high-growth Asian economies will continue to outpace the advanced economies of Europe, Japan and the US as the power balance shifts inexorably.

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The IMF also predicts the strength of international currencies over the next few years. It shows the interest rate that banks charge each other to borrow euros will remain worryingly high.

We've extracted the key data from the report below. What can you do with it?

Data summary

IMF projections

Click heading to sort table. Download this data
Place, subject	Type	2010	2011	2012	2013
SOURCE: IMF
World Output	GDP change	5.2	3.8	3.3	3.9
Advanced Economies	GDP change	3.2	1.6	1.2	1.9
United States	GDP change	3	1.8	1.8	2.2
Euro Area	GDP change	1.9	1.6	-0.5	0.8
Germany	GDP change	3.6	3	0.3	1.5
France	GDP change	1.4	1.6	0.2	1
Italy	GDP change	1.5	0.4	-2.2	-0.6
Spain	GDP change	-0.1	0.7	-1.7	-0.3
Japan	GDP change	4.4	-0.9	1.7	1.6
United Kingdom	GDP change	2.1	0.9	0.6	2
Canada	GDP change	3.2	2.3	1.7	2
Other Advanced Economies	GDP change	5.8	3.3	2.6	3.4
Newly Industrialized Asian Economies	GDP change	8.4	4.2	3.3	4.1
Emerging and Developing Economies	GDP change	7.3	6.2	5.4	5.9
Central and Eastern Europe	GDP change	4.5	5.1	1.1	2.4
Commonwealth of Independent States	GDP change	4.6	4.5	3.7	3.8
Russia	GDP change	4	4.1	3.3	3.5
Excluding Russia	GDP change	6	5.5	4.4	4.7
Developing Asia	GDP change	9.5	7.9	7.3	7.8
China	GDP change	10.4	9.2	8.2	8.8
India	GDP change	9.9	7.4	7	7.3
ASEAN-5	GDP change	6.9	4.8	5.2	5.6
Latin America and the Caribbean	GDP change	6.1	4.6	3.6	3.9
Brazil	GDP change	7.5	2.9	3	4
Mexico	GDP change	5.4	4.1	3.5	3.5
Middle East and North Africa (MENA)	GDP change	4.3	3.1	3.2	3.6
Sub-Saharan Africa	GDP change	5.3	4.9	5.5	5.3
South Africa	GDP change	2.9	3.1	2.5	3.4
European Union	GDP change	2	1.6	-0.1	1.2
World Growth Based on Market Exchange Rates	GDP change	4.1	2.8	2.5	3.2
World Trade Volume (goods and services)	Trade	12.7	6.9	3.8	5.4
Advanced Economies	Imports	11.5	4.8	2	3.9
Emerging and Developing Economies	Imports	15	11.3	7.1	7.7
Advanced Economies	Exports	12.2	5.5	2.4	4.7
Emerging and Developing Economies	Exports	13.8	9	6.1	7
Oil	Commodity Prices (U.S. dollars)	27.9	31.9	-4.9	-3.6
Nonfuel (average based on world commodity export weights)	Commodity Prices (U.S. dollars)	26.3	17.7	-14	-1.7
Advanced Economies	Inflation	1.6	2.7	1.6	1.3
Emerging and Developing Economies	Inflation	6.1	7.2	6.2	5.5
On U.S. Dollar Deposits	London Interbank Offered Rate (percent)	0.5	0.5	0.9	0.9
On Euro Deposits	London Interbank Offered Rate (percent)	0.8	1.4	1.1	1.2
On Japanese Yen Deposits	London Interbank Offered Rate (percent)	0.4	0.4	0.5	0.2