The IMF forecasts global growth this year to average 3,3 percent, compared with 3,2 per cent in 2012 but down on their previous estimates. The IMF still sees the recovery as fragile, with downside risks remaining, particularly in advanced economies.
The World Trade Organisation last week downgraded its forecast for growth in world trade in 2013 from 4,5 per cent to 3,3 per cent (well below the long run trade growth of 6 per cent), mainly a result of renewed risks coming from the Eurozone and the impact of rising protectionism.