*  *  *  The economy The world economic recovery is continuing, albeit amidst many uncertainties. Global output grew by 5 per cent on average in 2010; the previous year it had fallen by almost one percentage point. It is commonly believed that the expansion will continue at almost the same pace as last year.
In the United States, GDP growth accelerated to almost 3 per cent at the end of 2010; the increase in consumption became more robust. Growth at similar rates is expected for the current year. For the emerging economies, the growth estimate is on the order of an average of 7 per cent this year and next.