Monthly Briefing on the World Economic Situation and Prospects, No. 32

• The United Nations forecast for growth of the global economy was increased slightly to 3.3 per?cent in 2011 and 3.6 per cent in 2012
• However, the pace of the global recovery remains uneven across countries; output growth is?strong among developing countries and feeble in many developed economies
• Serious downside risks to the global recovery remain; developed economies face continued?financial sector fragility, sovereign debt distress and high unemployment rates; any developing?countries face new headwinds, including rising inflation, assets bubble risks and strong exchange?rate appreciation

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The world economy continues to recover from the globa l economic crisis, but the pace remains uneven across countries. Output growth is strong among?developing countries and feeble in many developed economies. Residual effects from the global financial crisis continue to weigh on global growth,?while new challenges have emerged.