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Advertising in the US is forecast to contract by 10%.
The economy is forecast to contract by 3.1% this year.
The economy is forecast to contract by more this year than the latest budget allows for.
Italy is forecast to contract by 1.3% in 2012 while Spain suffers a 1% cut in national output.
The downturn is expected to be most severe in Southern Europe, where Italy's economy is forecast to contract by 2.2 percent and Spain's by 1.7 percent.
That would remove one of the biggest obstacles to change.This year the Japanese economy is forecast to contract by 3-6%.
Similar(41)
Overall, earnings for companies in the S&P 500 are forecast to contract by 5.4percentt for the third quarter, according to S&P Capital IQ.
By contrast, reserves held by the five major exporters are forecast to contract for the fourth successive season, much as a result of cuts in Thailand associated with the release of supplies from state stockpiles and a sharp output reduction in the United States.
Without the stimulus lift, the government expects that the economy, which is forecast to shrink by 0.2% this year, would also contract in the next fiscal year, starting in July.
Although the economy contracted 4.5 percent last year and is forecast to shrink an additional 3 percent this year, Greece has managed to cut its deficit by a substantial five percentage points of gross domestic product, although it is still high at 9.6 percent of G.D.P, according to the I.M.F.
His biggest problem is the economy, which contracted last year and is forecast to shrink by a further 8% this year.
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