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After lower than expected growth in the first half of 2014, the IMF has once more lowered its GDP growth forecast for 2014 and 2015.
Global economy: World growth is now projected at 4.6% in 2010. Relative to the April 2010 World Economic Outlook (WEO), this represents an upward revision of about ½ a percentage point in 2010, reflecting stronger activity during the first half of the year. At the same time, Eurozone downside risks have risen sharply amid renewed financial turbulence.
2013 was expected to turn the sour circle round and bring forth a year with a higher growth rate than that of 2012 – but it is about to evaporate in the Summer heat.
The recent months’ uptick in global indicators, which implies a strengthening in the global economy, is not sufficient for the patient to be discharged yet. The state of the global economy is still uncertain, despite stronger growth dynamics in advanced economies, and not least in China.
The International Monetary Fund (IMF) has downgraded its global growth projection from 3.7% in April to 3.4% in July. The adjustment is primarily due to the large negative result in the US in the first quarter of the year. The IMF stressed that this is now behind us – and it therefore sticks to its 2015 projection with an unchanged growth level of 4.0%.
As the recovery continues to move forward, the bumps in the road are both new “friends” and old “foes”. We are still concerned with the lack of inflation in both the US and Eurozone, as production capacity far exceeds demand.
2016 continues where 2015 ended, with all eyes on China. This is mainly because of uncertainty surrounding the development of the world’s second-largest economy. When the first day of the Shanghai Stock Exchange of 2016 closed prematurely, the trading results echoed around the world. It warned us that we are in for a rough ride in 2016.
Global monetary policy easing, low interest rates and volatile inflationary pressure from goods, services, and assets is “dish of the day” as the global economy is desperate to shrug off the bad effects of the financial crisis that still haunts us.
The global economy remains on the expansionary track at the start of 2013. The positive development is underpinned by rising global employment, a faster new order inflow and a higher output of services and manufactured goods.
Supramax: An anaemic week for the Supramax market – driven lower predominantly by the Atlantic routes, as macro concerns continued to weigh heavily on the index . The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry indices.
