Recession of 2009/Addendum
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Recent economic developments
Autumn 2008
US industrial production falls. Chicago Federal Reserve Bank's National Activity Index (CFNAI) falls from -1.61 for August to -2.57 for September, mainly on steep fall in industrial production.
Credit crunch eases slightly in late October - after steep rises in September[1] [2].
The oil price falls. (October US light $67/barrel, down fron July $147 peak)[3].
UK output falls - by 0.5% between second and third quarters of 2008 [4].
Forecasts and outturns
- Annual percentage growth in Gross Domestic Product
- (forecasts are shown in italics)
Date Source Country 2007 2008 2009 2010 2011 02 October 2008 International Monetary Fund [5]. United States 2.0 1.6 0.1 United Kingdom 3.0 1.0 -0.1 France 2.2 0.8 0.2 Japan 2.1 0.7 0.5 China 12 10 9 World 5.0 3.9 3.0 08 October 2008 Conference Board [6] United States 2.0 1.7 0.0 18 October 2008 Item Club [7] United Kingdom 3.0 1.0 -1.0 1.0 2.9