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  • Market News
  • 22 January 2014 :: The IMF Increased Forecasts On GDP
22 January 2014

The IMF Increased Forecasts On GDP

By Kristina Leonova: Chief Analyst in the Investment Research Department

The IMF Increased Forecasts On GDP
The International Monetary Fund raised forecasts on growth rates of the world economy for the first time in the last two years, however, emphasized that the richest and most developed countries develop at the present moment with slower rates than they actually could. Besides, the IMF noted that deflationary risks remain to be on a high level.

According to the updated estimates, world gross domestic product will increase by 3.7% in the current year, and then by 3.9% in 2015. We will remind you that in October, the growth of the world economy in 2014 was expected to be on a level of 3.6%. The IMF also improved the forecast for the USA from 2.6% to 2.8%, for China from 7.2% to 7.5%, and for Germany, from 1.4% to 1.6%.

Following the results of the trading session, the indicator of "blue chips", the Dow Jones Industrial Average index, was closed with a minus of 0.27% on the level of 16414.44 points, the index of the wide market S&P 500 increased by 0.28% to the level of 1843.80 points, and the index of the hi-tech companies, Nasdaq, grew by 0.67% to the level of 4225.76 points.

As for the European stock markets, the British FTSE 100 was reduced by 0.04%, the French CAC40 increased by 0.02%, and the German DAX got stronger by 0.15%. The regional STXE 600 indicator increased by 0.1%, having closed on a level of 335.76 points.

The indicator of economic moods in the Eurozone from the results of research carried out by the German institute ZEW, in January, grew to 73.3 points from 68.3 points in December. The same indicator for Germany, according to ZEW estimates, increased in January from 32.4 points a month earlier, to 41.2 points, whereas analysts expected 34.1 points.

The price of WTI oil, following the results of the day on NYMEX, raised by 0.4% to the level of 94.97$ per barrel, and is continuing its growth today and increasing by 0.54% to the level of 95.66$ per barrel. Brent is up by 0.54%, traded on a level of 107.30$ per barrel. The prices of gold and silver are flat, with gold trading on a level of 1241.30$ per troy ounce, and silver bargaining next to the level of 19.89$ per troy ounce.
About the author
Kristina Leonova
Kristina Leonova
Chief Analyst in the Investment Research Department

Kristina Leonova is an up and coming market specialist - currently in the process of obtaining The Chartered Financial Analyst Degree in CFA Institute.

She began her career at Liteforex (ex. Mayzus) at only 20 years old, holding the position of the Assistant of the Chief Financial Officer.

She has since become invaluable to the Company, holding the position of Chief Analyst in the Investment Research Department, and now is also responsible for our world renowned market reviews.

She has a keen eye and a good gut instinct when it comes to analyzing the markets, always staying at the top of her game, with her work often being published on other websites and news vendors.

Mayzus is excited to welcome her as our new, top financial analyst.

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