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The recovery in the advanced economies continues to strengthen as fiscal consolidation is slowing down and investors are less worried about the debt situation. We have seen this with several southern European nations now being able to tap into the financial markets once again at interest rate levels signalling improved health.
As we are about to call it a day on 2013, we can now look back at a year that we are happy to say good-bye to, as it disappointed us. One year ago, 2013 was proclaimed to be a year with stronger growth than the one we had just left. Today, we are predicting the same thing in 2014, which is estimated to be just as good at 2013 was supposed to be.
... paving the way for a growth scenario, as the dark clouds just won’t go away before that happens. As the world continues to deal with severe economic challenges – a very fragile world economy and high volatility in the financial markets – the IMF slashed its forecast for global GDP growth across the board.
Finally, we can conclude that a one-sided focus on monetary expansion handled by central banks is not enough anymore.
Global recovery advances but remains uneven, with two main tracks. In advanced economies, activity has tempered less than expected, but growth remains
The global macroeconomic scene has become more volatile, with prominent factors such as oil prices and global currencies causing a commotion.
By looking at the JPMorgan Global Manufacturing & Service PMI, it is clear that global growth is under pressure, as PMI output reaches the lowest level since mid-2009. The PMI data shows that global private sector output expanded at the weakest rate since the recovery began in August 2009. At 51.4, down from 52.0 in September, the output index indicated only a modest increase in economic activity.
As we approach the fourth anniversary of the start of the global financial and economic crisis the outlook continues to be bleak. The V-shaped recovery is now ancient history and the sustainable growth level that we hoped would settle high continue to show a sideways or even descending trend.
The recent economic crisis inflicted substantial damage on the public finances of many countries around the world. Enormous stimulus programmes
The latest BIMCO digital Bulletin is now available and is packed with great articles.
