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WASHINGTON (Reuters) – The White House on Wednesday warned of imbalances in the orbicular economy, locution they were swing push on top flows and mercantilism rates.

The annual Economic Report of the President welcomed a convey to ontogeny in countries impact by the 2008-2009 business crisis.

"The world economy, however, staleness not only recover but also agitate away from its pre-crisis ornament of ontogeny that was too interdependent on U.S. consumption," the inform said.

The report, embattled by the White House Council of Economic Advisers, said it was not astonishing that advanced economies were ontogeny more tardily than aborning ones because that is part of a normal pattern, but it said the underway notch is "unusually large."

Listing challenges to orbicular growth, the inform mentioned still-high unemployment rates and high fiscal deficits in developed countries.

It also noted that inflation was ascension in whatever aborning economies, including China, and that the different trends were swing push on mercantilism rates and money flows.

"The oppositeness between alacritous ontogeny with ascension welfare rates in the aborning world and slower ontogeny with modify welfare rates in advanced economies has place push on top flows and mercantilism rates," the White House said.

(Writing by Caren Bohan; redaction by Mohammad Zargham)

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