The world economy is expected to pick up steam this year, after policy makers in Europe and the US reduced the threat of their regions experiencing “acute” crises, the IMF says. The IMF, in an update to its World Economic Outlook (WEO), projects world output will grow by 3.5pc this year, a modest increase over the 3.2pc expansion seen in 2012, and by 4.1pc in 2014. But the IMF’s latest projection for 2013 is slightly lower than the 3.6pc growth that its economists were anticipating just three months ago (WPA, 12 October, p9).
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