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The IMF report on the global economy had a good news/bad news aspect to it. The agency expects “the world economy to shrink by 1.4 percent in 2009, slightly worse than its earlier estimate of a 1.3 percent contraction.” It upped expectations for next year to 2.5 percent growth from the 1.9 percent number it offered in April.

The optimism for 2010 may be premature. Several G8 leaders, gathered at a summit in Italy, have expressed concern that large stimulus packages are not affecting national economies fast enough. In the U.S. there is already talk of a second stimulus program. That would be on top of the $787 billion already in place.