Tesco and J Sainsbury are both likely to confirm that sales are markedly slower when they release trading updates this week. Tom Stevenson By Angela Monaghan The World Bank's Global Economic Prospects 2010 report said that a prolonged period of rising sovereign debt would make credit more expensive and weigh down on investment and growth in emerging markets. "If markets lose confidence in the credibility of efforts to put policy on a sustainable path, global growth could be significantly impaired and a double-dip recession could not be excluded," it said. The Bank called for "significant" fiscal consolidation in advanced economies and said its research suggested the quicker this was achieved, the better it would be for developing economies. "The acute phase of the crisis is over. We're now going into a longer-term challenge of returning fiscal policy in high-income countries to a sustainable level," said Andrew Burns, a World Bank economist. The Bank forecast global growth of 2.9pc-3.3pc in 2010 and 2011, but said that growth in high-income countries would be lower in 2010, in the 2.1pc-2.3pc range, after a 3.3pc fall in GDP in 2009.Supermarket sales hit by economy fears
The Leahy legacy
World Bank warns of double-dip risk
The World Bank has warned a double-dip recession is a possibility in
some countries if investors are not convinced debt levels can be
sufficiently reduced in Europe and elsewhere.
Published: 6:30AM BST 11 Jun 2010Related Articles
Sunday, 13 June 2010
Tesco and J Sainsbury are both likely to confirm that sales are markedly slower when they release trading updates this week.Supermarket sales hit by economy fears
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