World Outlook: Global Economic Trends and Prospects: Spring 2004

This quarterly examination of the short-term economic outlook for the world’s major economies also contains an in-depth analysis of a number of issues that are relevant for understanding world economic trends and developments.

Document Highlights

• In 2004, the world economy will benefit from accommodative monetary policy in many of the world’s major economies, notably the United States.
• Germany and Japan will continue to restrain world economic growth over the near term.
• Economic growth in Latin America will receive a boost from rising commodity prices, a result of surging Chinese demand.
• China will record slightly slower growth this year as the government attempts to put the brakes on credit expansion.