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Africa and Global Economic Trends Quarterly Review - Fourth Quarter 2011
The slowdown in the major developed economies, transmitted to the African economies mainly through trade linkages, is likely to dampen growth prospects across the continent. African economies are facing a sustained period of weak foreign demand, as illustrated by the sharp deceleration in the global merchandise trade volumes, which fell in October to around 5%, compared to 10% at the beginning of 2011. Merchandise imports continue to register a sub-trend pace in both advanced as well as emerging economies.