BIS Review 142/2009  5  5. Overcoming the recession and returning to growth  Thanks to the powerful support provided by economic policies, the world economy has resumed growing, albeit at modest rates that vary regionally.
According to the latest IMF forecasts, world output, after falling by more than 1 per cent this year, should increase by around 3 per cent in 2010; the expansion will be fairly moderate in the advanced economies, robust in the emerging and developing countries. The downward spiral of our economies in late 2008 and the early part of this year has halted.