Chart of the week: are forecasters being too bullish again?

There are happy days ahead for the world economy, if forecasters are to be believed. But analysts have a terrible forecasting record.

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There are happy days ahead for the world economy, if forecasts from the International Monetary Fund (IMF) are to be believed. This chart from Deutsche Bank suggests that the number of countries in recession, which soared to nearly 100 during the global financial crisis, is set to decline to record lows over the next few years.

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