Nation 

Estimated GDP Growth in 2010 

Estimated GDP Growth in 2011

 Current Economic Situation

U.S.

2.5% 

2.7% 

Federal Reserve officials have pledged to keep the benchmark interest rate at a record low for an "extended period" (Economic Times, June 24, 2010)

Japan

1.4% 

1.8% 

The Japanese Government said on June 21 that its gross domestic product is now expected to grow by 2.6 percent, compared to estimates of 1.4 percent earlier this year

Germany 

1.2% 

Unknown 

Germany's federal statistics in May show that in the first quarter the economy unexpectedly grew by 0.2 percent, better than the negative growth of 0.1 percent forecasted by experts beforehand

China

 9.0%

9.0% 

China's economy, after bottoming out in the first quarter of 2009, rose with a clear V shape, and its current economic growth has recovered to the level of the second quarter of 2007

The UK 

2.2% (OECD) 

2.6% (OECD) 

Britain declared on June 20 that the British Government will publish an emergency budget, which includes a new bank tax, welfare reform and spending cuts

France

 0.9%(IMF)

Unknown 

French President Nicolas Sarkozy confirmed plans on June 28 to slash spending on ministerial travel to save 100 billion euros, so as to reduce the deficit

Italy 

0.8% (EU) 

Unknown 

The latest Italian statistics indicate that GDP rose in the first quarter of this year by 0.6 percent year on year, an increase of 0.5 percent compared with the fourth quarter last year

Canada

2.6% (IMF)  

3.6% (IMF) 

The Bank of Canada became the first Group of Seven central bank to raise the interest rate by 0.25 percent on June 1, as inflation and growth outpaced forecasts. The new interest rate is now 0.5 percent

Russia

3.2% 

3.0% 

The Russian Economic Development Ministry estimated on May 26 that Russia's GDP rose by 3.5 percent year on year in the first four months of this year

R.O.K.

4.6% 

Unknown 

South Korea's economy grew 7.8 percent in the first quarter from a year earlier. Encouraged by strong economic indicators, the Bank of Korea recently upgraded its growth forecast for this year from 4.6 percent to 5.2 percent, according to the Financial Times

Brazil

3.6% 

3.9% 

Brazil's year-on-year economic growth in the first quarter was 9 percent, the highest since 1991 and second only to China among emerging nations

India

7.5% 

8.0% 

Given the fact that the wholesale price index rose an annual 10.16 percent in May, the Indian central bank won't consider tightening monetary policy at its upcoming policy review meeting

Mexico

3.5% 

3.6% 

The Bank of Mexico said on June 18 that its overnight interbank funding rate remained at 4.5 percent

Australia 

0.6% (IMF)

Unknown 

Australia's GDP grew 2.7 percent year on year in the first quarter following a sixth interest rate increase

Indonesia

5.6%

5.8%

Indonesia's central bank said it would increase its overnight repo rate to 7.5 percent from 7 percent and lower the central bank's deposit facility, or FASBI, rate to 5.5 percent from 6 percent, said Reuters

Turkey

3.3% 

4.2% 

The International Monetary Fund (IMF) said in April that the Turkish economy is expected to grow by 5.2 percent in 2010, higher than the 3.7 percent estimated by the IMF last October and the 3.5 percent expected by the Turkish Government earlier this year

Saudi Arabia

 Unknown

Unknown 

An authoritative institution in Saudi Arabia said that the country's economic growth is expected to be 3.5 percent to 4 percent in 2010, much higher than the 0.15 percent growth in 2009

S. Africa

2.0% 

2.7% 

According to the IMF, economic growth in South Africa may approach 3 percent in 2010, including 0.5 percent growth brought by this year's World Cup

Argentina

2.3% 

2.4% 

Economic growth in Argentina was 6.4 percent in the first quarter year on year, recovering to the level prior to the outbreak of the global financial crisis

Eurozone 

1.0% 

1.7% 

The latest information has confirmed that economic recovery in the Eurozone continued in the first half of 2010, said Jean-Claude Trichet, President of the European Central Bank, on June 10