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Economic Outlook 1/2011

(24.01.2011) The financial crisis and the Great Recession are now safely behind us and the world economy is back at cruising speed. Although key figures have been somewhat weaker recently, they are still at levels that indicate solid growth in the new year.

By Maren Romstad, Analyst at DNB Markets

economic outlook 1/2011 from DNB marketsThe global economy grew by 4½ per cent last year, and growth this year is projected to come to around 4 per cent, half of which will be in the industrial countries. The repercussions of the financial crisis are still with us. The unemployment rate is record high. In many countries the private sector is burdened by debt and several countries are struggling with unsustainable public finances. A crisis in the Eurozone is no longer unthinkable. High unemployment is keeping core inflation low. Together with budget cuts this will probably mean record-low interest rates in the leading industrial countries for at least another year. However, steeper growth in energy and food prices is creating tensions in growth economies and could present central banks in wealthy countries with substantial challenges.

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