On January 15, The World Bank released its Global Economic Prospects report for January ’13.
Among its various forecasts is various projections for GDP growth, including a Global GDP forecast.
For 2013, it expects Global GDP growth of 2.4%, which is down from the 3% figure it projected in its last forecast in June 2012.
For 2014, The World Bank forecasts Global GDP growth of 3.1%, down from the 3.3% figure it forecasted in June of 2012.
In 2012, the Global GDP growth is estimated to have been 2.3%.
An excerpt from the January 15 Press Release:
Developing countries recorded among their slowest economic growth rates of the past decade in 2012, with GDP estimated to have grown 5.1 percent. Growth for developing countries is projected to expand by 5.5 percent in 2013, strengthening to 5.7 percent and 5.8 percent in 2014 and 2015, respectively.
Growth in high-income countries remains weak, with their GDP expanding only 1.3 percent in 2012 and expected to remain slow at an identical 1.3 percent in 2013. Growth should gradually firm to 2 percent in 2014 and 2.3 percent by 2015. In the Euro Area, growth is now projected to only return to positive territory in 2014, with GDP expected to contract by 0.1 percent in 2013, before edging up to 0.9 percent in 2014 and 1.4 percent in 2015.
A variety of other forecasts can be seen within the report.
StratX, LLC offers the above commentary for informational purposes only, and does not necessarily agree with the views expressed by these outside parties.
StratX, LLC is a management consulting firm and strategic advisory that focuses on the analysis of current and future weak(ening) economic conditions, and offers businesses and other entities advice, strategies, and actionable methods on how to optimally adapt to such challenging, complex conditions.