Total state gross domestic product grew at a 1.5% clip in 2011, less than half the 3.1% rate in 2010, a sign that momentum may be waning.

WSJ: Are High-Yield Munis Headed for a Fall?

Ireland's budget deficit reached an alarming 32% of gross domestic product after a state bailout of the country's banks, which had lent recklessly and fuelled an unsustainable property boom.

BBC: Ireland country profile

As the impact of the global financial crisis grows, and real estate remains in a troubled state, the bank said the gross domestic product in China will amount to 7.5% in 2009, down from its previous prediction of 9.2%.

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