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World growth to hit 3%: Coface

World growth to hit 3%: Coface article image
Global credit agency Coface has increased its world growth forecast to three percent following better expectations of industrialised countries. Global financial crisis survivors Australia, Canada and New Zealand have retained the highest ranking of A1, while the USA, currently on A2, has been placed under positive watch with an upward forecast of 2.3 percent. However, with a more dampened outlook, the Euro Zone has been reviewed downward to 0.8 percent, though Coface indicates that industrialised countries as a whole should post 1.6 percent growth this year. "This ending of the crisis is characterised by a positive growth shock of 4.5 points, without precedent, but deceiving," remarked François David, president of Coface. "If emerging countries have nearly recovered their pre-crisis growth level, the United States shows a respectable but risky recovery and the ending of the crisis is very painstaking in Europe."

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