IMF's World Economic Outlook says commodities to stay high

ERJ staff report (DS)

Geneva -- The International Monetary Fund has published its most recent version of its World Economic Outlook (WEO). The report says, "Global activity expanded at an annualised rate of just over 3.5 percent in the third quarter of 2010. A slowdown from the 5 percent growth rate of the second quarter of 2010 was expected, but the third-quarter rate was better than forecast in the October 2010 WEO, owing to stronger-than-expected consumption in the United States and Japan."

The report noted that oil and non-oil commodity pries are rising sharply. Although rubber is not mentioned specifically, the report notes, "non-oil commodity prices are expected to increase by 11 percent in 2011. Near-term risks are now to the upside for most commodity classes."

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WEO from IMF