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Global investors remained skeptical about a recovery even after the International Monetary Fund (IMF) upgraded its US GDP growth forecast. IMF now expects the US GDP to contract 2.5 percent in 2009—this is lower than the 2.8 percent decline it had estimated in April 2009. The IMF revised the growth estimate for 2010 to 0.75 [...]
General Motors Corporation filed for bankruptcy on June 1, 2009. Despite its global repercussion, equity markets remained buoyant during the week ended June 5, 2009, in anticipation of an economic revival. In the UK, housing prices rose 2.6 percent month-on-month in May 2009, the first since 2002. This led to the expectation of an economic [...]
