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The pace of global economic growth slowed markedly in 2011. While official data covering the full year are not available for most countries, world gross product is estimated to have increased by 2.8 per cent in 2011, compared with 4 per cent in 2010. The slowdown was most severe for developed countries, where the average growth rate was cut in half, sliding from 2.7 per cent in 2010 to 1.3 per cent in 2011. Developing country growth also decelerated by 1.5 percentage points to an average of a still robust 6 per cent. The economic slowdown is projected to continue into 2012 in most parts of the world. The group of least developed countries (LDCs) are an exception, as their growth momentum is expected to improve despite the weakening global environment.