Perhaps, but don’t cheer just yet
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The economic storm clouds appear to be clearing, but how long will the recovery take?
Japan, Germany and France all released figures recently that indicated they were technically out of recession. And the International Monetary Fund predicted global economic growth of 2.5% in 2010. ‘Financial conditions have improved more than expected, owing mainly to public intervention,’ said the economists.
However, recovery is likely to be ‘sluggish’, they continued. Unemployment continues to mount and, as a result, advanced economies as a whole are not expected to see a sustained improvement until the second half of 2010.