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Forecasts in uncertain times

09/20/2010
By Laura Bell
Several factors have influenced the challenging feat of forecasting world economic growth in 2010. The impact of the global recession and government stimulus packages has had uncertain effects in forecasting both economic growth and world oil demand growth, according to the latest monthly oil report from the Organization of Petroleum Exporting Countries.Forecasters have been more cautious in their approach to determining economic growth because of the depressed world markets.OPEC predicted in August 2009 that worldwide economic growth in 2010 would be 2.3%, but recently revised this figure to 3.9%. In addition, other forecasting institutions have since revised their outlooks upwards, alig...
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