Money Daily Brief: World economy to grow faster in 2010, IMF says(Read article summary)
The International Monetary Fund raises its 2010 forecast for economic growth.
•Faster global recovery: The International Monetary Fund will boost its 2010 world economic growth forecast to 3.1 percent from 2.5 percent, its managing deputy director said. A survey of economists projected Brazil's GDP will rise 4.5 percent in 2010, up from 4.2 percent predicted a week earlier. But an IMF report warned of a significant lurch in the global recession due to tight credit and tougher lending rules of banks. It estimated that the global financial crisis would cause $3.4 trillion in bank losses for the 2007-10 period.
•Eurozone prices: Consumer prices in the 16-nation region fell a larger than expected 0.3 percent from a year earlier, the fourth straight monthly decrease, as oil prices dropped and rising unemployment caused shoppers to cut back. Private economists said the deflationary trend was temporary.
•Smarter airlines: Carriers worldwide are introducing advanced scanners and luggage tags with radio signals to prevent baggage loss at airports. Last year, nearly 33 million bags, or 1.4% of all checked in luggage, was mishandled, costing airlines $3 billion.