The world economy will lose momentum in 2012 but it will keep moving in the right direction, according to Reuters polls of around 600 economists who said crisis-hit Europe would drag on global growth.

Asian economies will again power the expansion of the world economy this year, but with relatively subdued performances. The US, meanwhile, should continue to contribute modest growth that will easily outpace its recession-hit European peers.

Brazil will be one of the few big economies that will pick up steam this year, outshining slower Latin American stablemates Mexico and Argentina.