GLOBAL GROWTH PROSPECTS FOR 2013 FADING, SAYS EIU. CHINA DOWN, YEN WEAKENING

LONDON - Prospects for steady gains in global economic growth throughout 2013 are fading, according to the latest Global Forecast from The Economist Intelligence Unit. Although the US economy is strengthening and some key emerging markets will grow faster this year than in 2012, a synchronised global upturn is less likely in the next six months, the EIU says. It now expects growth in global economic output to be no higher in 2013 than the year before, although a better showing in expected in 2014. “We have reduced our 2013 GDP forecast for the euro zone to -0.7% from -0.4%,” the EIU says.