That pace would be faster than last year, but the projections are 0. Outlook for economic activity and prices october 2017. According to the world banks january 2017 global economic prospects gep, global growth in 2016 edged down to 2. Despite the slowdown in china, east and south asia will. Jan, 2017 slow growth, low economic participation, and a high cost of living are the foremost economic trends as the calendar changes to 2017. Monthly economic outlook august 2017 analysis 8142017 7. The global upswing in economic activity is strengthening, with global growth projected to rise to 3. June 2017 monthly briefing in the world economic situation. After the 2012 slowdown global economic growth is expected to pick up gradually through 2017. Its appropriate that we are holding this panel on the day of the us presidents inauguration. World economic outlook international monetary fund. The unchanged global growth projections mask somewhat different contributions at the country level.
Launch of the oecd economic outlook, june 2016 oecd. Maurice obstfeld, chief economist at international monetary fund, discusses the imfs world economic outlook, with a focus on china, the postbrexit u. The economic recovery, such as it was, has been over for a year. Global economic growth to take a severe hit in 2020 the global economy will take a severe hit this year as the coronavirus pandemic has brought economic activity to a screeching halt across large swatches of the globe, including in asia, europe, and the united states. Economic outlook october 2017 rakennusteollisuus rt. Economic outlook economic research unit economic and european affairs department october 2017 international scene. International monetary fund april 2017 v flow of funds table a14 224 mediumterm baseline scenario table a15 227 world economic outlook, selected topics 229 imf executive board discussion of the outlook, april 2017 237 tables table 1. Challenges to steady growth october 3, 2018 description. According to the october 2016 world economic outlook, global growth is.
At the same time, however, the expansion has become less balanced and may have peaked in some major economies. Slow growth, low economic participation, and a high cost of living are the foremost economic trends as the calendar changes to 2017. As a result, mario draghi signalled in february that the ecb. Overview of the world economic outlook projections 2 scenario table 1. Summary table main economic and fiscal variables % change unless stated 2015 2016 2017 economic activity real gdp 26. The weo is released in april and septemberoctober each year. Contents international monetary fund october 2016 v tables table 1. Economic outlook economic research unit economic and european affairs department january 2017 according to the ank of spains forecast, the spanish economy will close the year with a growth of 0. Historical and projected monthly probability of occurrence. Its appropriate that we are holding this panel on the day of the us presidents inauguration, he states. Nevertheless, growth is still expected to be lower than in the five years prior to 2008, and a number of concerns still weigh heavily on these forecasts. Lacker, interest rate benchmarks, speech to the virginia association of economists and the richmond association for business economics, richmond, va. However, beginning in the second half, we project that growth in consumer spending will moderate and residential investment will continue to decline as borrowing rates rise and disposable income gains diminish.
The world is expected to enter a period of recovery after the great recession of 2007 to 2012, mostly pulled up by the developing markets of asia, africa and latin america. Global growth to pick up slowly through 2017, but downside factors still remain. Cbo projects that over the next decade, if current laws remained generally unchanged, budget deficits would eventually follow an upward trajectorythe result of strong growth in spending for retirement and health care programs targeted to older people and. The global upswing in economic activity is strengthening. Paris, 1 june 2016 as prepared for delivery ministers, ambassadors, ladies and gentlemen, lets now move to the next session of our joint oecd forum and ministerial council meeting. According to the nationwide building society nbs, house prices in the united kingdom rose 0. Our affordable housing topic will be moved to spring of 2017. Store closings will approach 9000 this year more than quadruple the 2000 reported as recently as 20 and remember the economic environment has been benign. The revision of 2017 followed an april upgrade by the imf on chinas gdp growth forecast to 6. Central europe comprises bulgaria, croatia, the czech republic.
Cbi international economic outlook quarterly march 2016 with a reading of 0. Past publications 2018 release straighttalk global overview united states november 2018 europe november 2018 emerging asia november 2018 japan january 2019 next update. The upward revision is due to notable uptick in the economic performances of europe and asia. Global growth consolidates but risks remain on balance, growth forecasts for 201718 are largely unchanged. Download a free pdf of the report and data sets for each of the. International monetary funds world economic outlook update for january 2018 has forecasted a pickup in the global growth in 2017. Global growth, which in 2016 was the weakest since the global financial crisis at 3.
The united states economic outlook was described in my recent economic forecast 20162017. Commonwealth of pennsylvania fiscal years 201516 to 202021 january 2016. While growth could be stronger if reduced trade tensions mitigate uncertainty, the balance of risks is to the downside. Jun 12, 2017 according to the world economic situation and prospects as of mid 2017 report wesp mid 2017, world gross product is expected to expand by 2. The longterm budget outlook 36 2 the economic outlook 39 recent economic developments 41 box 21. Summary the canadian economy advanced at a robust pace in the first half of 2017. Ags, an rr donnelley company cataloginginpublication data joint bankfund library names. The next quarterly update of the conference boards global economic outlook is scheduled for midmay 2020 and will include a new.
September 2017 economic outlook ucla anderson school of. But the dominant concern now, says moderator martin wolf, associate editor and chief economics commentator at the financial times, is clearly political. The steady expansion under way since mid 2016 continues, with global growth for 201819 projected to remain at its 2017 level. International monetary fund, world economic outlook 2017 the world is expected to enter a period of recovery after the great recession of 2007 to 2012, mostly pulled up by the developing markets of asia, africa and latin america. Compared to the projection in the winter issue of mississippi economic outlook, this forecast is lower by 0. Use the free adobe acrobat reader to view this pdf file. Uncertainty over the outlook is elevated, given the constant evolution of the pandemic and lack. The report focuses on four regional subgroups that share broad economic similarities see map. Jan 24, 2017 in fiscal year 2016, for the first time since 2009, the federal budget deficit increased in relation to the nations economic output. Before handing over to our chief economist catherine mann, who will walk you. Economic research unit economic and european affairs department october 2017. The world economic outlook weo database contains selected macroeconomic data series from the statistical appendix of the world economic outlook report, which presents the imf staffs analysis and projections of economic developments at the global level, in major country groups and in many individual countries.
The pickup in global activity is projected to be more gradual than in the october 2015 world. Cpb netherlands bureau for economic policy analysis, current population survey, u. Weicheng lian of the imf research department visited the jvi to present the analytical chapters of the latest world economic outlook weo which explore both these questions, and to summarize the weos global outlook. The latest world economic outlook has therefore upgraded its global growth projections to 3. Monthly highlights figure 1b global trade growth figure 1c u. The outlook for the level of resource exports is lower than previously expected. Lower employment is expected to result in a decline in household income of 1. The eu regular economic report rer is a periodic publication of the world bank group and covers economic developments and prospects, as well as economic policies in the european union.
In this video update, wells fargo senior economist tim quinlan and economist michael brown. Economic research unit economic and european affairs department january 2017 international scene the spanish economy demand and activity the labour market in. The war in syria rages on and europe is at crossroads between democratic values and rising populism. Imf updates world economic outlook as better china.
The liquefied natural gas lng export profile has been revised lower, reflecting more conservative assumptions table 6. The pickup in global growth anticipated in the april world economic outlook remains on track, with global output projected to grow by 3. Monthly economic outlook july 2017 live video jul 17 2017, 21. World economic outlook, october 2019 international monetary fund. The session begins on a positive note the global economy is on the up. Overview of the world economic outlook projections 2 annex table 1. Output growth and inflation forecastsa per cent yearended jun 2016 dec 2016 jun 2017 dec 2017 jun 2018 dec 2018. September 2017 economic outlook a revolution is underway in retailing as online sales are taking about 50% of the incremental growth. Real gdp, consumer prices, current account balance.
According to the world economic situation and prospects as of mid2017 report wesp mid2017, world gross product is expected to expand by. Given the unanticipated outcome of the presidential election, the forecast is changing the special topic of the december 6 forecast conference to focus instead on the new ucla economic outlook to include what the trump presidency will look like. Outlook for economic activity and prices october 2015. Imf world economic outlook october 2017 bespacific. Shortterm recovery, longterm challenges world economic and financial surverys. Imf world economic outlook weo update, january 2016. December 2016 economic outlook ucla anderson school of. Global growth consolidates but risks remain on balance, growth forecasts for 2017 18 are largely unchanged. January 23, 2018 i economics imf world economic outlook.
Confederation of finnish construction industries rt 4. April 2017 world economic outlook international monetary fund. The world economic outlook weo presents imf economists analyses of global economic developments, issues affecting advanced, emerging, and developing economies, and topics of current interest. The ecb forecasts for hicp inflation in 2016 were sharply revised down in march to 0. There is a slight positive bias for the eurozone and especially china, where we expect 6. The steady expansion under way since mid2016 continues, with global growth for 201819 projected to remain at its 2017 level. According to the october 2016 world economic outlook, global growth is projected to slow to 3. Imf downgrades outlook for world economy washington post. Data refer to calendar years, except in the case of a few countries that use fiscal years. Oct 10, 2017 the latest world economic outlook has therefore upgraded its global growth projections to 3. Cbo projects that over the next decade, if current laws remained generally unchanged, budget deficits would eventually follow an upward trajectorythe result of strong growth in spending for retirement and health care programs. Jan 16, 2017 maurice obstfeld, chief economist at international monetary fund, discusses the imf s world economic outlook, with a focus on china, the postbrexit u.
Imf updates world economic outlook as better china prospects. Current slack in the labor market 43 the economic outlook for 2017 to 2020 44 the economic outlook for 2021 to 2027 55 projections of income for 2017 to 2027 60 some uncertainties in the economic outlook 61 comparison with cbos august 2016. In fiscal year 2016, for the first time since 2009, the federal budget deficit increased in relation to the nations economic output. Nov 24, 2015 the united states economic outlook was described in my recent economic forecast 2016 2017. Broadbased upward revisions in the euro area, japan, emerging asia, emerging europe, and russia more than offset downward revisions for the united states and the united kingdom.
United states economic outlook 2nd quarter 2017 4 2. The reduction in expected growth primarily results from downgrades to the forecast for the change in u. World economic outlook, october 2017 international monetary fund. Economic outlook october 2017 conferederation of finnish construction industries rt 4th october 2017 sami pakarinen. The imf now projects the world economy will grow 3. Store closings will approach 9000 this year more than quadruple the 2000 reported as recently as 20 and remember the.