The U.S. economy seems to be facing very problematical times in today’s day and age.  We are in the midst of recession and the expectation appears hopeless to many fellow Americans.  It’s apparent how modern times are tough and usually this will raise the concern in knowing whether or not there are other nations who have it worse.  In a comparative study, the U.S. economy may not be nearly as bad off as other regions around the globe.

According to the International Monetary Fund’s most up to date calculations, a 2.6 decline can be observed in the U.S. economic yield for all of the year of 2009.  A weak growth of approximately 0.8 percent from 2010 is ascertained as well.  While this may seem more optimistic than the IMF’s prediction from only merely three months ago, these numbers are still considered very awful.  What does this mean for our upcoming  future?  Well, it does appear that a weak economy throughout 2010 will result in the unemployment rates becoming much lower, a painful and slow housing recovery, and possibly another couple of years of a treacherous recession.

Despite the oppositions we are currently facing, we still need to consider ourselves to be very fortunate.  According to the IMF, at least 11 other parts of the entire world are having even more severe economic contractions and setback than the United States has faced or encountered this past year .  This number includes most parts of Western Europe, Japan, Russia, and Mexico.  Predictions state that Europe will more than likely still be dragging behind the United States come next year.  Glimpsing at other parts of the world, it’s evident this problems is wide spread.  The following shows a representation of the IMF’s projections for economic growth in many parts of the world:

On a lighter note, the IMF does offer a more positive outlook.  According to the IMF, the global wipeout does finally seem to be starting to fall back.  The IMF recently reported “The world economy is stabilizing.”  The global economic growth projection of 2.5 percent from 2010 is at higher number than predicted in April.  It appears to be 0.6 percent points higher.  There are no expectations as far as the global economy gaining its foothold in earnest until the second half of 2010.  By this time, American spenders will most likely come out of concealment.