China, Russia, India Growth Offsets Loss of Western Output, IMF Says

WASHINGTON -- Economic growth in China, India and Russia is helping to offset some of the lost output from industrialized countries suffering from a credit crisis, the International Monetary Fund said Wednesday.

"These three countries alone accounted for one-half of global growth over the past year, but other emerging market and developing countries have also maintained robust expansions," the IMF said in its latest World Economic Outlook.

The IMF predicted 2007 global economic output would grow 5.2%, unchanged from the previous update of forecasts released in July. For 2008, the IMF shaved 0.4 percentage point from its forecast for global ...