World Bank forecasts deep recession for Japan/Europe/US

Calcutta News.Net
Monday 22nd June, 2009

World Bank surveys have shown that Germany and Japan may have become less pessimistic about their business prospects in recent months; perhaps prematurely.

With the world economy still bottoming, the latest World Bank forecasts have highlighted how deep the recession will be in the euro zone, the United States and Japan.

The bank said that it expected economies in the high-income nations to come back by a total of 4.2 percent this year.

It expects the US economy to shrink 3 percent and the euro zone 4.5 percent, rather than the 2.4 percent and 2.7 percent it forecast in March.

For Japan, the World Bank has now projected fall-back's of as much as 6.8 percent for the rest of this year, making the figure much higher than the 5.3 percent it forecast three months ago.

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