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: Winter 2009
World Outlook: Global Economic Trends and Prospects: Winter 2009
Global Economic Analysis
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- The global economy, which expanded by an estimated 2.4 per cent in 2008, is on track to grow by a paltry 0.4 per cent this year.
- The outlook for much of Europe remains grim, with real GDP expected to contract by close to 1 per cent this year in the wake of a meagre 1.1 per cent gain in 2008.
- Numerous injections into the U.S. economy by the government and the Federal Reserve will gradually turn around the contraction in U.S. economic growth by the second half of 2010.
- Most countries in Latin America and the Asia-Pacific region will likely not slip into recession this year, but they will record sharply weaker growth as a result of weaker commodity prices and slower export demand from the developed world.
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