World Economic Growth
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The Global Economy experienced a faster rate of growth in the third quarter of the year 2006. The growth rate of the world economy was largely contributed by the Euro areas as well as some of the emerging market economies over the world.
Economies in the European region grew particularly by strong demand in the region. Emerging economies such as China experienced a double-digit rate of growth in the third quarter of the year 2006.
But US Economy being the world’s largest economy was slowed down on the third quarter due to rising imports demand and falling consumer spending.
The Japanese Economy also slowed down in the third quarter due to falling domestic demand.
The International Monetary Fund in its report has shown that the Global Economy will expand by 4.9 percent in the year 2007. In its forecast the IMF has shown that the growth will largely rely upon the emerging economies.
The Growth Rate of Some economies over the world are as follows:
Growth Rates In Advanced Economies for the third quarter of 2006
A stalemate rate of growth has prevailed in the euro area for the second quarter as well as the third quarter. The growth rate in the United Kingdom has increased in the third quarter in comparison to the previous quarter.
Growth Rates In some of the Emerging Economies for the third quarter of 2006 is as follows:
The rate of economic growth in India, Brazil and Indonesia have increased in the third quarter in comparison to the second quarter. On the contrary, the rate of growth in China has declined to 10.6 percent in the third quarter from 11.3 percent in its previous quarter. The growth rate in Thailand has declined in the third quarter in comparison to the second quarter.
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