International Business
From Times Staff and Wire Reports
IMF Sees World Economic Growth: The International Monetary Fund said it expects the global economy to grow 3% this year and 3.5% in 1995 as the industrialized world comes out of its deepest recession in half a century. World trade is expected to expand strongly, growing by more than 7% this year and by 6% in 1995, well above the 5% average of the past two decades, the IMF’s annual World Economic Outlook report says. The U.S. economy is expected to grow 3.7% in 1994, slowing to a more sustainable 2.5% pace in 1995, while Japan’s economic recovery will produce a sluggish 0.9% growth, the IMF said.
