FED:World economy growing stronger, RBA says

AAP General News (Australia)
02-11-2011
FED:World economy growing stronger, RBA says

CANBERRA, Feb 11 AAP - Reserve Bank of Australia governor Glenn Stevens says the global
economy continues to grow and looks a little stronger than it did late last year.

Facing the House of Representatives economic committee in Canberra, Mr Stevens says
that China and India have sustained a strong pace of expansion, while the US seems to
be gaining a bit more momentum.

"Though the (US) still faces considerable problems," the governor said on Friday.

Conditions in Europe remain quite mixed and sovereign and bank creditworthiness continues
to be a "source of great uncertainty".

He noted that the International Monetary Fund was now forecasting world gross domestic
product growth of about five per cent in 2010, well above the 30-year average.

For 2011 it has lifted its forecast to 4.4 per cent.

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KEYWORD: RBA

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