Global Economy to Grow 3%

(Journal of Commerce Online – Joseph Bonney)

Emerging countries doing best, Eurozone slowest, says trade insurer

The global economy is expected to grow 3% this year, with emerging nations expanding more rapidly than the United States and Europe, the Paris-based trade credit insurer Coface said in a report.

“Emerging countries have nearly recovered their pre-crisis growth level, the United States shows a respectable but risky recovery and the ending of the crisis is very painstaking in Europe,” said Francois David, president of Coface.

Coface said three industrialized countries – Canada, Australia and New Zealand – have returned to their pre-crisis rank of A1, the highest level in Coface’s rankings, and that the United States’ A2 rating has been placed under “positive watch.” Read more here.