Economic Outlook
Nonwithstanding slightly higher
oil prices and natural disasters,
global growth has continued to
exceed expectations. Benign
financial market conditions continue
to support macroeconomic
growth. Looking forward, the
baseline forecast is for continued
strong growth, although there
remain vulnerabilities. In particular,
continued US dollar appreciation
would pose a risk to exports,
although is not likely.
The momentum and resilience of the global economy has been fueled by continued
growth in exports to emerging markets. This growth has remained higher than expected
and is likely to continue. Global GDP growth is estimated at 4.1 percent, with
incoming data generally positive.
Food and fuel inflation continue to pose a risk to consumer consumption and debt
levels. However, with crude oil production rising slightly over the last four quarters and
consumption somewhat lower than expected, price levels are expected to remain
stable.
Center For Economic Forecasts
Economic Outlook
Nonwithstanding slightly higher
oil prices and natural disasters,
global growth has continued to
exceed expectations. Benign
financial market conditions continue
to support macroeconomic
growth. Looking forward, the
baseline forecast is for continued
strong growth, although there
remain vulnerabilities. In particular,
continued US dollar appreciation
would pose a risk to exports,
although is not likely.
The momentum and resilience of the global economy has been fueled by continued
growth in exports to emerging markets. This growth has remained higher than expected
and is likely to continue. Global GDP growth is estimated at 4.1 percent, with
incoming data generally positive.
Food and fuel inflation continue to pose a risk to consumer consumption and debt
levels. However, with crude oil production rising slightly over the last four quarters and
consumption somewhat lower than expected, price levels are expected to remain
stable.
Center For Economic Forecasts
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