Helping this recovery are various non-standard measures (like the US stimulus package) that have been introduced since October 2008 in an effort to manage the economic crisis. The pace of recovery, however, is slow, and economic activity remains far below pre-recession levels.
In preparing the 2009 Worldwide Industrial Gas Market Report, CryoGas International relied on information from respected groups such as The World Bank, a financial development organization owned by 186 member countries; The Institute for Supply Management (ISM), the largest supply management association in the world; The International Monetary Fund (IMF), an organization of 186 countries that fosters global monetary cooperation and sustainable economic growth; and The International Energy Agency (IEA), an intergovernmental organization that acts as energy policy advisor to 28 member countries, as well as sources like The Economist, Bloomberg, and The Financial Times. For US information, our primary sources are the US Bureau of the Census and the US Federal Reserve Board (FRB).
Gross Domestic Product (GDP) is an important economic indicator as it measures comprehensive economic activity. Figure 1 presents CGI’s consensus estimate of worldwide Real GDP growth by region for 2008 –2009 and projects GDP growth for 2010. As shown, real worldwide GDP shrank by -0.7 percent in 2009 to reach $44 trillion (chained to 2005 dollars).
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