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.
World Outlook: Global Economic Trends and Prospects: Spring 2009
World Outlook: Global Economic Trends and Prospects: Spring 2009
Global Economic Analysis
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- The global economy will contract by 1.6 per cent this year in the wake of a 2 per cent gain in 2008.
- Global growth will return to positive territory next year at 2.1 per cent as the numerous stimulus plans start
to have a positive impact on global economic activity. - While credit conditions have eased somewhat since the end of last year, lending standards in every major
economy have been tightened aggressively. - A sharp (and possibly prolonged) recession in Eastern Europe is inevitable, a development that will have
further negative consequences for Western Europe. - In many Asia-Pacific countries, trade has borne the brunt of the decline as money from private commercial
lenders to fund export contracts has dried up.
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