The IMF is out with its predictions for global growth in 2012 and 2013 and across the board the numbers are being reduced. In particular, the IMF sees growth slowing globally to 3.6% next year, which is a reduction from its July estimate of 3.9% And even these numbers are upside cases in that they assume positive outcomes to the fiscal cliff scenario in the US and the European debt crisis in the euro zone. Likely, one or both of these situations will trigger another growth forecast downgrade at some point in the future.
I also saw some of the numbers for Latin America via Argentina's Clarin and the clear point here was that all of Latin America's growth estimates for this year are being cut except Chile. Separately, HSBS reported a slight uptick in the Chinese services sector. Housing mar...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.