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The global expansion is losing speed in the face of a major financial crisis. The slowdown has been greatest in the advanced economies, particularly in the United States, where the housing market correction continues to exacerbate financial stress. The emerging and developing economies have so far been less affected by fi nancial market developments and have continued to grow at a rapid pace, led by China and India, although activity is beginning to slow in some countries. At the same time, headline infl ation has increased around the world, boosted by the continuing buoyancy of food and energy prices. Policymakers around the world are facing a diverse and fast-moving set of challenges, and although each country's circumstances differ, in an increasingly multipolar world it will be essential to meet these challenges broadly, taking full account of cross-border interactions. The World Economic Outlook (WEO) presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries. It focuses on major economic policy issues as well as on the analysis of economic developments and prospects. It is usually prepared twice a year, as documentation for meetings of the International Monetary and Financial Committee, and forms the main instrument of the IMF's global surveillance activities.

Exports and Imports --- Infrastructure --- Macroeconomics --- Real Estate --- Environmental Economics --- Housing Supply and Markets --- Commodity Markets --- Climate --- Natural Disasters and Their Management --- Global Warming --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Price Level --- Inflation --- Deflation --- Property & real estate --- Climate change --- International economics --- Monetary economics --- Housing prices --- Commodity prices --- Prices --- Saving and investment --- Credit --- Climatic changes --- United States

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The September 2011 edition of the World Economic Outlook assesses the prospects for the global economy, which is now in a dangerous new phase. Global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing. Against a backdrop of unresolved structural fragilities, a barrage of shocks hit the international economy this year, including the devastating Japanese earthquake and tsunami, unrest in some oil-producing countries, and the major financial turbulence in the euro area. Two of the forces now shaping the global economy are high and rising commodity prices and the need for many economies to address large budget deficits. Chapter 3 examines the inflationary effects of commodity price movements and the appropriate monetary policy response. Chapter 4 explores the implications of efforts by advanced economies to restore fiscal sustainability and by emerging and developing economies to tighten fiscal policy to rebuild fiscal policy room and in some cases to restrain overheating pressures.

Exports and Imports --- Finance: General --- Inflation --- Macroeconomics --- Public Finance --- Price Level --- Deflation --- Fiscal Policy --- Commodity Markets --- Current Account Adjustment --- Short-term Capital Movements --- Trade: General --- International economics --- Finance --- Monetary economics --- Economic & financial crises & disasters --- Commodity prices --- Fiscal consolidation --- Current account balance --- Fiscal policy --- Prices --- Balance of payments --- Food prices --- Financial services industry --- United States

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This edition of the World Economic Outlook explores how a dramatic escalation of the financial crisis in September 2008 provoked an unprecedented contraction of activity and trade, despite active policy responses. It presents economic projections for 2009 and 2010, and also looks beyond the current crisis, considering factors that will shape the landscape of the global economy over the medium term, as businesses and households seek to repair the damage. The analysis also outlines the difficult policy challenges presented by the overwhelming imperative to take all steps necessary to restore financial stability and revive the global economy, and the longer-run need for national actions to be mutually supporting. The first of two analytical chapters, "What Kind of Economic Recovery?" explores the shape of the eventual recovery. The second, "The Transmission of Financial Stress from Advanced to Emerging and Developing Economies," focuses on the role of external financial linkages and financial stress in transmitting economic shocks.

Banks and Banking --- Financial Risk Management --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Financial Crises --- Commodity Markets --- Price Level --- Deflation --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Fiscal Policy --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Economic & financial crises & disasters --- Banking --- Monetary economics --- Investment & securities --- Financial crises --- Commodity prices --- Credit --- Prices --- Fiscal policy --- Banks and banking --- United States

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The World Economic Outlook (WEO) presents the IMF’s leading economists’ analyses of global economic developments during the near and medium terms. It is a respected, one-stop, trusted resource offering remarkable insight, balance, and perspective to decision makers and policymakers worldwide. Published twice yearly, the World Economic Outlook presents the outlook for growth, inflation, trade, employment, and other economic developments in a clear, practical format. Each WEO considers the issues affecting advanced, emerging market, and developing economies. Central bankers, economists, Financial institutions, business leaders, governments, think tanks, and researchers eagerly await this unique investigation of what’s happening and what’s ahead.

Investments: Energy --- Exports and Imports --- Finance: General --- Inflation --- Macroeconomics --- International Investment --- Long-term Capital Movements --- Energy: General --- Price Level --- Deflation --- General Financial Markets: General (includes Measurement and Data) --- Commodity Markets --- International economics --- Investment & securities --- Finance --- Econometrics & economic statistics --- Oil --- Capital flows --- Emerging and frontier financial markets --- Commodity prices --- Prices --- Capital movements --- Petroleum industry and trade --- Financial services industry --- Balance of payments --- United States

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The global economy grew strongly in the first half of 2007, although turbulence in financial markets has clouded prospects. While the 2007 forecast has been little affected, the baseline projection for 2008 global growth has been reduced by almost ½ percentage point relative to the July 2007 World Economic Outlook Update. This would still leave global growth at a solid 4¾ percent, supported by generally sound fundamentals and strong momentum in emerging market economies. Risks to the outlook, however, are firmly on the downside, centered around the concern that financial market strains could deepen and trigger a more pronounced global slowdown. Thus, the immediate focus of policymakers is to restore more normal financial market conditions and safeguard the expansion. Additional risks to the outlook include potential inflation pressures, volatile oil markets, and the impact on emerging markets of strong foreign exchange inflows. At the same time, longer-term issues such as population aging, increasing resistance to globalization, and global warming are a source of concern.

Exports and Imports --- Finance: General --- Inflation --- Macroeconomics --- Globalization --- International Investment --- Long-term Capital Movements --- Aggregate Factor Income Distribution --- General Financial Markets: General (includes Measurement and Data) --- Price Level --- Deflation --- Personal Income, Wealth, and Their Distributions --- Finance --- International economics --- Property & real estate --- Emerging and frontier financial markets --- Income inequality --- Capital inflows --- Personal income --- Income distribution --- Capital movements --- Financial services industry --- Prices --- Income --- United States