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
- World economic activity will moderate in 2005, mainly because of weaker growth in the U.S. economy.
- Lower seasonal demand and higher production in non-OPEC countries will ease oil prices somewhat in the spring.
- The U.S. dollar will depreciate over the near term, but the pace of decline will not harm global economic prospects.
- The huge U.S. budget and current account deficits remain the major risks to the world outlook.
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