Citi Global Economists Predict Strong Sustained Global
Economic Recovery in 2010
Strongest Growth in Asia and the U.S.; Uneven Growth Expected In Europe and Japan
November 23, 2009 01:55 PM Eastern Time
NEW YORK--(EON: Enhanced Online News)--Citi’s Investment Research and Analysis group today released its annual “Prospe
and Financial Markets for 2010,” which features detailed economic and market forecasts from Citi’s economists and strategists. Th
result of a collaborative effort across Citi’s Global Research team.
Michael Saunders, Citi’s Global Head of Developed Markets Economics, said, “After the most severe global recession for decades
a sustained but uneven global recovery. Almost all major economies exited recession in Q2 and Q3, and we again make more grow
upgrades than downgrades. This month, we are upgrading our 2010 GDP forecasts for the U.S., Japan, U.K., Australia, New Zeal
Korea, Argentina, Hungary, Poland, Czech Republic and Turkey.”
Key highlights of the report include:
l Widespread Initial Recovery, Then Greater Disparities: The initial bounce in output is likely to be quite solid and even
economies through early 2010. After this initial burst, Citi expects sustained momentum in Asia (excluding Japan); a fairly stro
U.S. and more gradual medium-term recovery in Europe and Japan.
l Asian Growth Outperforms All Regions, Led by China: After having an earlier and sharper rebound than the rest of the
inventory-restocking, aggressive policy stimulus, plus strong investment and consumer spending in China, we expect the regio
continue to gain momentum in 2010.
l Continued Low Global Interest Rates Through 2010: The global economic recovery already has prompted interest rate
countries, but our forecasts do not anticipate an early or aggressive turn by the main central banks. Even so, the untested natu
unconventional measures and their sheer scope require that central banks begin to develop a framework for policy exit that m
both sides,
l Low Global Inflation: With ample spare c