World economic growth will slow to 1 percent in 2009 from 2.5 percent this year as the financial crisis bites and the global economy may even contract if stimulus packages prove too little too late, a UN report said. The report on World Economic Situation and Prospects 2009 urged coordinated international stimulus packages to limit the impact of a downturn in Western economies on poorer countries. Next year's growth forecasts compare to global growth rates of 3.5 to 4 percent from 2004-2007 and the report said the economic environment for developing countries had deteriorated sharply after early complacency
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