Economic Outlook November 2012

Global growth is expected to pick up slightly, with a 2.8% growth, in 2013 comparing to this year, though the outlook has weakened over the past six months, following a sequence of downward revisions across both developed and emerging markets according to this Atradius report.
 
Key Takeaways:
  • Global economic growth will increase from 2.6% this year to 2.8% in 2013 as Western Europe climbs out of recession and emerging economies regain momentum

 

  • The Eurozone economy is expected to stagnate in 2013, growing 0.2%. Latin American growth increases to 3.8%, while Asian growth stabilizes at 4.9%. The United States continues its weak recovery with growth of 2.1% predicted

 

  • In spite of expansionary monetary policy, credit conditions remain tight across advanced markets. The financial sector still consolidates its debt and seeks additional capital to comply with new regulation, particularly in the Eurozone

 

  • Our forecasts project a continued increase in insolvencies across many European economies, owing to the weak outlook for economic activity in 2012 and 2013

 

  • Risks to the outlook are still significant: an escalation of the Eurozone crisis, further moderation of growth in emerging economies and a spike in the oil price could individually or together undermine global economic growth

 

 

 

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