World trade is rebounding strongly from the depressed levels of 2008-2009. The projected growth in world trade for 2010 has been revised upwards from 5.6% to 6%. The US Federal Reserve kept interest rates unchanged at record lows in March. The consensus is that rates will be kept low for most of 2010, as conditions remain too fragile to begin raising them. The euro hit a 10-month low against the dollar due to frustration over continued bickering and lack of decisive action among euro zone leaders over the Greek crisis. Confidence indicators in most European countries showed a split between business confidence and consumer confidence, with Germany being the exception. The Turkish economy, on the other hand, contracted by 8.4% during January-September 2009, but moved back into growth in the final quarter. The recent arrest of dozens of senior military officers has sharpened tensions between Turkey's ruling Justice and Development government and the high command of the armed forces.
What's Happening Globally? Byron Shoulton Business Credit; May 2010; 112, 5; Docstoc pg. 16 Reproduced with permission of the copyright owner. F
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