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According to Reuters economic poll, the growth was faster than the 2.5% forecast by their analysts, and followed a steep 6.8% slump in the first quarter, the first such contraction since at least 1992 when quarterly gross domestic product (GDP) records began.
According to Reuters economic poll, the growth was faster than the 2.5% forecast by their analysts, and followed a steep 6.8% slump in the first quarter, the first such contraction since at least 1992 when quarterly gross domestic product (GDP) records began.
It has led to the inescapable conclusion that the world is in a global liquidity trap, where monetary policy has limited effect. We must agree on appropriate policies to climb out, Gopinath said, noting fiscal policy must play a leading role in the recovery.
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