International Monetary Fund report on world economic outlook

1. Zoom out of news conference 2. SOUNDBITE: (English) Simon Johnson, Chief Economist, International Monetary Fund: "Our US growth projection has been marked down since this September WEO, World Economic Outlook, to 2.2 %. This mark down partly reflects a weaker than expected second half of 2006 and the expectation that headwinds from housing will continue for a while longer, but the economy still looks likely to regain momentum through the course of this year and into 2008." 3. Pan from journalists at conference to table 4. SOUNDBITE: (English) Simon Johnson, Chief Economist, International Monetary Fund: "The Euro area, good as fast paced in 6 years, in 2006 and the economy's forward momentum looks solid. Area wide growth is expected to moderate from 2.6% in 2006 to about 2.3% in 2007." 5. Wide of journalists at conference 6. SOUNDBITE: (English) Simon Johnson, Chief Economist, International Monetary Fund "In Japan, the expansion appears to regain its footing after a mid year pause. Positive sentiment in the business centre, excuse me, sector, and continued employment growth should carry the expansion forward. We see growth in 2007 at 2.3% about the same pace as last year." 7. Mid of journalists at conference 8. SOUNDBITE: (English) Simon Johnson, Chief Economist, International Monetary Fund "In China, growth moderated slightly in the second half of 2006 partly reflecting measures to cool fixed asset investment from its recent rapid pace, but nevertheless the economy is expected to rise by 10% in 2007." 9. Wide shot of journalists and panel 10. SOUNDBITE: (English) Simon Johnson, Chief Economist, International Monetary Fund: "Activity in Latin America is projected to decelerate slightly this year from its 5.5% pace in 2006, as external factors appear slightly less favourable. The slowdown is expected to be broad based with Brazil and Chile as exceptions." 11. Wide shot of journalists 12. SOUNDBITE: (English) Simon Johnson, Chief Economist, International Monetary Fund: "The outlook for the Middle East remains favourable, although growth is expected to moderate slightly this year and next year." 13. Wide shot of table 14. SOUNDBITE: (English) Simon Johnson, Chief Economist, International Monetary Fund: "In Africa, the outlook remains very positive against the backdrop of strong global growth, continued progress in achieving macroeconomic stability and rising oil production in a number of countries. Growth is expected to exceed 6% in 2007, up from about 5.5% in 2006" 15. Zoom out from table to journalists leaving conference STORYLINE: According to a new International Monetary Fund forecast released on Wednesday in Washington, the global economy should turn in an energetic performance this year, even though its biggest player, the United States, is expected to experience its weakest growth in five years. "Our US growth projection has been marked down since this September WEO, World Economic Outlook, to 2.2 %. This mark down partly reflects a weaker than expected second half of 2006 and the expectation that headwinds from housing will continue for a while longer, but the economy still looks likely to regain momentum through the course of this year and into 2008," Simon Johnson, the IMF's Chief Economist, told journalists during conference. The IMF is projecting the world economy to grow by 4.9 percent this year and next. While that would be a moderation from last year's 5.4 percent advance, it would still represent a remarkably healthy showing, analysts say. Another global powerhouse, China, is expected to show huge growth of 10 percent this year and 9.5 percent next year, according to the IMF's forecast. The country's economy expanded by 10.7 percent last year. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/5c7f63edb921ff79a3d5fae493477d14 Find out more about AP Archive: http://www.aparchive.com/HowWeWork