A violent rally that was registered on financial markets during the first week in October was not long-lived. Last week, stock indices were in a downward trend for the most part of trading time. The weekly drop on the US stock platforms turned out to be record-low over the past four weeks.
Markets began to do a rapid U-turn on Tuesday, 9 October, when October report was published by the IMF, which downgraded the forecast for global economic growth for 2012 and 2013. In particular, estimates were lowered from 3.5% to 3.3% for 2012 and from 3.9% to 3.6% for 2013. This forecast is based on the assumption that governments in the US and the EU will be able to cope with the most serious economic problems in the short run. Otherwise, economic growth in the majority of countries
will be slower.
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