Economic Report: Global Economy Could Shrink For First Time In 60 Years – 04/23/09
Does the world feel like it is getting smaller? It could just be the economy. According to the International Monetary Fund, the world economy could shrink by 1.3 percent making it the first time in 60 years the world economy has gone in reverse. If it does shrink leading economists believe that could lead to 10 million more without jobs. On Friday world economic powers will meet to further develop commitments recently made at the world summit in London in March.