London-Rising oil prices still present a risk to the global economic recovery now underway, the International Monetary Fund said October 1, warning that temporary oil price spikes could not be ruled out in the future. The IMF said in its October 2009 World Economic Outlook that the world economy appeared to be expanding again, with global activity estimated to have risen by about 3% during the second quarter after a 6.5% contraction in the first quarter. On an annual basis, the agency sees world economic activity expanding by about 3% in 2010 after contracting by about 1% in 2009.
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