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Money Daily Brief: World economy to grow faster in 2010, IMF says

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Cesar Ferrari/Reuters

(Read caption) Employees work at the assembly line of Positivo Computers, Brazil's largest computer producer, in Curitiba. The International Monetary Fund is raising its growth forecast for Brazil in 2010.

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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.


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