The global economy
is set to decline by 1.3% in 2009,
in the first global recession since World War II,
the International Monetary Fund (IMF) says.
In January, the IMF had predicted world output would increase by 0.5% in 2009.
It now projects that the UK will see its economy shrink by 4.1% in 2009, and by a further 0.4% in 2010.
But other major economies are predicted to shrink even more, with Germany declining by 5.6%, Japan by 6.2%, and Italy by 4.4% in 2009.
The prospects for the advanced economies are not much brighter in 2010, with an overall forecast of zero growth.
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