GLOBAL: Developed economies staring at decade of "lost growth"
Western economies must take decisive action if they are to avoid slipping back into recession in 2012 and a decade of stagnation, the International Monetary Fund (IMF) has warned.
The international body said today (20 September) that the world economy is in a "dangerous new phase", as it pegged back growth projections for many developed economies and warned that fresh recession is a risk for next year. The eurozone debt crisis, which worsened today after Italy was downgraded by Standard & Poor's, together with high debt levels in the US, are causing concern.
"Only if governments move decisively on fiscal policy, financial repairs, and external rebalancing, can we hope for stronger and more robust recovery,” said IMF chief economist Olivier Blanchard. For 2011, the body said that developed economies face "anaemic" growth in gross domestic product, of just 1.6%.
It warned of a "decade of lost growth" in advanced economies. The strongly-worded report echoes renewed concern across markets and companies. Earlier this month, PepsiCo's CFO, Hugh Johnston, told analysts: "The outlook has been degrading over the last six months and it's now clear the developed markets have little growth."
Click play, below, to view the thoughts of PepsiCo's CEO, Indra Nooyi, on the company's structural changes announced earlier today (12 March)....
The Coca-Cola Co has spent the last 20 years diversifying its portfolio. Where once the rest of the stable cowered in Coke's shadow, more of the company's brands are now grabbing the spotlight and del...
- Industry is following the pack to patriotic party
- The category today - Scotch Whisky I
- Today's Market Trends - Scotch Whisky II
- Tomorrow's Market Trends - Scotch Whisky III
- Key Brands Performance - Scotch Whisky IV
- Brown-Forman shuffles director pack
- Diageo unveils first European Johnnie Walker House
- Spirits can fill music industry gap - Jagermeister
- Wm Grant redesigns Glenfiddich 21yo Gran Reserva
- Consumers want brands that challenge them - study
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Soft Drinks Global Overview: Growth Opportunities Between Category Lines
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global travel retail insights - market forecasts, product innovation and consumer trends