For 2011, Credito y Caución forecast a decrease in United Kingdoms insolvencies of 5%, signalling a gradual adjustment away from the unusually high level seen in 2009.
In the short term, the public sector will be able to meet its obligations, but a question mark still hangs over the mid-term future.
After this years strong economic performance, Thailands GDP growth is forecast to slow to 4% in 2011, as Thai exports will be affected by a decrease in global growth.
GDP growth in Slovakia will be lower in 2011 [3.3%] as a result of the governments austerity measures, introduced with the aim of reducing the public deficit to 4.9% of GDP this year.
Vietnam will remain dependant on foreign capital inflows, but these have not yet recovered from a plunge during the global credit crisis.
GDP will grow by 4.3% in 2011. To maintain high growth rates and attract more foreign direct investment, more structural reforms are necessary.
Singapore?s trade is expected to grow moderately in the last quarter of 2010, and total trade and non-oil domestic exports to increase by 6-8% in 2011.
The economy of Indonesia has proved far more resilient to the global downturn than expected. In 2011 GDP growth is expected to increase slightly to 6.0% after a 5.9% growth rate this year.
Insolvencies in Italy will decrease by 5% in 2011 and the Expected Default Frequency has reached its lowest level in more than two years.
The short term outlook of Crédito y Caución for the Canadian forestry sector is fair. Demand has started to return and, with overcapacity issues addressed, output should move upward.
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