The World Economy

2017 ◽  
Vol 241 ◽  
pp. F3-F3
Keyword(s):  
Euro Area ◽  
Economic Performance ◽  
World Economy ◽  
Central Banks ◽  
Gdp Growth ◽  
Political Uncertainty ◽  
Medium Term ◽  
Advanced Economies ◽  
The World ◽  
Economic Imbalances

Forecast for world GDP growth in 2017 has been revised up to 3.6 per cent, which would be the fastest growth in six years. Growth projections for 2018 and the medium term are unchanged, at 3.6 and 3.4 per cent, respectively. Inflation forecast has nevertheless generally been revised down slightly.In the Euro Area, stronger economic performance, together with reduced political uncertainty, provides an opportunity for action to complete the monetary union and reduce economic imbalances.To avoid jeopardising the recovery, central banks in the advanced economies will have to manage policy normalisation with particular caution.

The World Economy

2019 ◽  
Vol 247 ◽  
pp. F3-F3
Keyword(s):  
World Economy ◽  
Growth Cycle ◽  
Central Banks ◽  
Gdp Growth ◽  
List Type ◽  
Trade Disputes ◽  
Advanced Economies ◽  
The World ◽  
Global Growth ◽  
Economic Outlook

Recent data suggests that the global growth cycle has probably peaked. We forecast world GDP growth of around 3.5 per cent a year over the next two years.On that basis, the second decade of the 21st century will have seen sustained global GDP growth.Tariff increases and trade disputes seem likely to act as a drag on the global economic outlook, with a bias towards slower growth as a consequence.Despite faster wage growth in advanced economies, the recent fall in oil prices has reduced the risks of inflation overshooting targets. We expect central banks to reduce monetary accommodation very gradually.

The World Economy

2017 ◽  
Vol 240 ◽  
pp. F3-F3
Keyword(s):  
World Economy ◽  
Output Growth ◽  
Consumer Confidence ◽  
Economic Policies ◽  
Soft Data ◽  
Medium Term ◽  
National Elections ◽  
Advanced Economies ◽  
The World ◽  
The Face

Global output growth is forecast to pick up from 3.1 per cent in 2016 to 3.3 per cent in 2017 and 3.6 per cent in 2018 – a slightly stronger acceleration than expected in February. Projected medium-term growth is still well below pre-crisis rates.A striking feature of the current conjuncture is unusual uncertainty, particularly about the interpretation of recent ‘soft’ data showing increased business and consumer confidence in the advanced economies, US economic policies, and policies in Europe in the face of national elections in the largest economies.There are significant risks to our growth forecast on both the upside and the downside but of particular concern are the downside risks related to the adoption of more populist policies in advanced economies.

At a Glance … The world economy

2012 ◽  
Vol 222 ◽  
pp. F2-F2
Keyword(s):  
Euro Area ◽  
World Economy ◽  
List Type ◽  
Advanced Economies ◽  
The Us ◽  
The World ◽  
Depression Era ◽  
The Impact ◽  
India And China

World growth is expected to remain below trend at 3.1 per cent in 2012 and 3.4 per cent in 2013.The Euro Area is forecast to contract by 0.5 per cent this year and grow only marginally next year with unemployment reaching ‘depression-era’ rates in some periphery economies. The US is likely to grow by 2 per cent in each year.Growth in Brazil, Russia, India and China will be below long-term potential next year, although ‘hard-landings’ will be avoided; the impact on advanced economies will be offset by a large gain in competitiveness.Debt to GDP ratios in OECD countries will, on average, be higher in 2014 than at present.

At a Glance …

2007 ◽  
Vol 199 ◽  
pp. 2-3
Keyword(s):  
Economic Growth ◽  
Euro Area ◽  
World Economy ◽  
Gdp Growth ◽  
Supply Side ◽  
List Type ◽  
The World

•The world economy will continue to expand vigorously, growing by 5.0 per cent in 2007 and by 4.8 per cent in 2008.•Americani GDP growth will slow to 2.9 per cent in 2007 ard 2.5 per cent in 2008.•Economic growth in the Euro Area will slow to 2.2 per cent in 2007 and 2. per cent in 2008.•Japanese growth will pick up to 2.4 per cent in 2007 and 2.5 per cent in 2008.•Both the Euro Area and Japan will perform better in the second half of the decade than in the first half because of supply-side impr-ovements.

scholarly journals The World Economy

2018 ◽  
Vol 246 ◽  
pp. F3-F3
Keyword(s):  
Global Economy ◽  
World Economy ◽  
List Type ◽  
Medium Term ◽  
Advanced Economies ◽  
The World ◽  
Full Capacity ◽  
Near Term ◽  
Global Growth ◽  
Economic Outlook

The global economy is set to continue to grow at a pace of slightly below 4 per cent a year in the near term.Oil prices have risen further and with some advanced economies appearing to be operating at close to full capacity, there is a risk that inflation will increase. Our expectation is that any rise will be limited.US tariff increases and confrontational trade rhetoric are adding uncertainty to the global economic outlook, with a bias towards slower growth as a consequence.Without a recovery in productivity growth, the pace of economic expansion in the medium term will be slower than at present. Our medium term outlook is for global growth of around 3.5 per cent a year.

The World Economy: Forecast Summary

2019 ◽  
Vol 248 ◽  
pp. F3-F3
Keyword(s):  
World Economy ◽  
Growth Cycle ◽  
Central Banks ◽  
Output Growth ◽  
Gdp Growth ◽  
Trade Disputes ◽  
The Past ◽  
Advanced Economies ◽  
Added Uncertainty ◽  
Economic Outlook

Recent data indicates that the global output growth cycle has peaked. We expect global GDP growth to continue, but at a slightly slower pace than in the past two years.Tariff increases and trade disputes have contributed to slowing growth and have added uncertainty to the global economic outlook.While slightly faster wage growth in advanced economies and tighter labour markets raise the potential for higher inflation, the fall in oil prices in late 2018 should, with slowing output growth, prevent a widespread pick-up in inflation.Continued low inflation opens the possibility for central banks to increase monetary accommodation to support economic activity should it be required.Despite slower output growth this year, this decade will have seen sustained global GDP growth averaging 3.8 per cent a year.

scholarly journals The World Economy: Forecast Summary

2019 ◽  
Vol 250 ◽  
pp. F3-F3
Keyword(s):  
Economic Growth ◽  
Industrial Production ◽  
World Economy ◽  
Service Sector ◽  
Central Banks ◽  
Gdp Growth ◽  
Negative Effects ◽  
Trade Show ◽  
The World ◽  
Production Activity

Increases in tariffs and uncertainty about both future tariff impositions and their potential implications for production activity have continued to have negative effects on global trade and industrial production.Several central banks, facing below target inflation, have loosened monetary policy to mitigate the effects of slower economic growth and a deterioration in the prospects for trade. While we expect that further monetary loosening will occur, fiscal policy could be more effective in boosting demand.Trends in global industrial production and trade show activity stalling since late last year. Although there are also some weaker signs in the service sector, so far activity there has remained relatively robust.In the light of recent data, we have lowered our forecast for global GDP growth this year from 3¼ per cent to 3 per cent, the slowest annual growth for a decade. We expect a similar pace in 2020, with a slight pick-up in 2021 to 3¼ per cent.

scholarly journals The World Economy: Forecast Summary

2018 ◽  
Vol 244 ◽  
pp. F3-F3
Keyword(s):  
Productivity Growth ◽  
Global Economy ◽  
World Economy ◽  
List Type ◽  
Medium Term ◽  
Advanced Economies ◽  
The World ◽  
Full Capacity ◽  
Global Growth ◽  
Economic Outlook

Last year the global economy expanded at its fastest pace since 2011. We continue to expect to see slightly faster global growth this year with momentum being carried forward. We expect growth to continue to be broadly based.With some advanced economies appearing to be operating at close to full capacity, a slowdown in the pace of expansion in the medium term is likely unless productivity growth picks up substantially. We retain our view that the medium term outlook is for growth of around 3.5 per cent a year.No economic outlook is without uncertainties. Issues such as increases in tariffs, the effect of the gradual removal of monetary accommodation and the prolonged persistence of low inflation, create potential for surprises to the forecast.

At a Glance…

2002 ◽  
Vol 180 ◽  
pp. 2-3
Keyword(s):  
North America ◽  
Interest Rates ◽  
Euro Area ◽  
World Trade ◽  
World Economy ◽  
Japanese Economy ◽  
Gdp Growth ◽  
List Type ◽  
The Us ◽  
The World

The world economy is starting to pick up speed again: by 2003, it will be growing by 3.7 per cent, with world trade expanding by 8.5 per cent a year.This will prompt rises in interest rates in North America and Europe.The US will grow by 2.4 per cent this year, double the rate of last year, rising to 3.5 per cent in 2003.Recovery in the euro area will be gradual, with GDP growth rising from 1.4 per cent in 2002 to 2.5 per cent in 2003.The Japanese economy will shrink by 1.2 per cent in 2002, and recovery in 2003 will be relatively modest, with GDP growth of 1.3 per cent.

At a Glance… The World Economy

2014 ◽  
Vol 228 ◽  
pp. F2-F2
Keyword(s):  
Euro Area ◽  
Global Economy ◽  
World Economy ◽  
List Type ◽  
Advanced Economies ◽  
The World ◽  
Growth Prospects ◽  
Ukraine Crisis ◽  
The Impact

Following growth of 3.1 per cent in 2013, the world economy is projected to expand by 3.6 per cent in 2014 and 3.9 per cent in 2015.Growth prospects have improved in most advanced economies, with the exception of Japan, although much of the Euro Area remains very depressed.Key risks include deflationary pressures in advanced economies, especially the Euro Area. Provided that it is contained, the impact of the Ukraine crisis on the global economy is likely to be small.

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