December 2009
Summary:
Global recovery continues, with an increasing number of countries reporting rises in output;?The recovery, however, is uneven across regions and economic and financial fragilities remain
Global trade is gaining momentum and prospects for commodity exporters have improved
Continued and better coordinated policy support is still needed to avoid a double-dip recession
The world economy is on the mend, with quarterly GDP growth rates in an increasing number of countries moving into positive?territory again and international trade and industrial production indices showing continued upward trends. While the latest debt?debacle in Dubai seems to have been contained, it…
Monthly Briefing on the World Economic Situation and Prospects, No. 15
November 2009
Summary:
According to preliminary UN estimates, the world economy will shrink by 2.2 per cent in 2009.
There are clear indications that recovery is on its way and global output may increase by 2.4 per?cent in 2010, according to the preliminary UN forecast. Recovery is still very fragile, however.
A key risk is a premature withdrawal of the stimulus measures in major economies, which presently is a key factor driving the incipient recovery. Pursuing further stimulus now while?at the same time ensuring a more sustainable and balanced global growth for the future is a?main challenge facing policy makers collectively.
After a sharp and synchronized global downturn in 2008 and…
Monthly Briefing on the World Economic Situation and Prospects, No. 14
October 2009
Summary:
The global recovery remains fragile and requires sustained policy support, as agreed by G20?leaders at the Pittsburgh Summit.
The recovery in some Asian economies has lost some of its momentum, as reflected in weaker?exports and imports.
Unemployment continues to rise worldwide.
Widespread hunger is looming in East Africa.
G20 leaders have recognized that the global recovery remains fragile over concerns that the modest signs of recovery are almost?entirely on account of the fiscal stimulus, that there are still important financial sector problems to be resolved and that unemployment remains on the rise worldwide. The leaders pledged to sustain a strong policy…
Monthly Briefing on the World Economic Situation and Prospects, No. 13
September 2009
Summary:?
The global economy shows tentative signs of a recovery, but substantial risks and uncertainties?remain. If employment growth and private investment demand do not pick up strongly before?the effects of fiscal stimuli fade out, the world economy may face a double-dip recession.
Global trade activity could recede again as final consumer demand remains sluggish.
Fiscal stimulus measures have been a major factor for the stabilization or expansion of aggregate demand across the globe, especially in a number of large developing countries.
A major food crisis is imminent in East Africa.
The world economy continues to show signs of an incipient recovery. However,…
Monthly Briefing on the World Economic Situation and Prospects, No. 12
July 2009
Summary:
The recent United Nations conference on the global financial and economic crisis proposed a comprehensive set of actions to mitigate the immediate impact of the crisis and to formulate adequate medium- and long-term responses.
Unemployment is rising rapidly across the globe, posing a key risk for a sustained recovery of the world economy.
The contraction in world trade is slowing but import demand in developed economies remains weak as policymakers focus on domestic issues.
Heads of State and Government and High Representatives of the world?s nations met on 24-26 June 2009 for the United Nations Conference on?the World Financial and Economic Crisis and its Impact on…
Monthly Briefing on the World Economic Situation and Prospects, No. 10
August 2009
Summary:?
The global recession is moderating, with trade and industrial production stabilizing and financial markets partially improving
The prospects of a true global recovery are highly uncertain as demand continues to largely depend on fiscal stimuli, unemployment rates continue to rise, and global imbalances remain large
The prospects also vary significantly across regions and individual countries. Several economies, mostly in Asia, have rebounded in the second quarter of 2009, but many other economies remain mired in recession
The economic crisis has triggered a prodigious global trade shock, equivalent to about 4 per cent of world output. Countries with a strong…
Monthly Briefing on the World Economic Situation and Prospects, No. 11
May 2009
Summary:?
World economy will contract by 2.6 per cent in 2009; recovery in 2010 is possible, but risks of prolonged recession are high.
Developing countries are disproportionately hit by the crisis.
Fiscal responses, while significant, are asymmetric: more financial transfers to developing countries are needed as part of better coordinated global efforts.
The world economy is in the worst recession since World War?II. According to the preliminary revised United Nations forecasts, world gross product (WGP) is expected to fall by 2.6 per?cent in 2009, compared with an average rate of growth of more?than 3 per cent in the years prior to the crisis. Even as some observers see ?…
Monthly Briefing on the World Economic Situation and Prospects, No. 8
January 2009
Summary:
There are increasing signs that the world economy is entering a recession.
Slowing global demand underpinned a further decline in oil prices.
Weakening economic conditions led to further accommodative policy actions.
Deteriorating economic indicators in the United States, Europe and Japan, as well as slowing economic activity in developing countries and the economies in transition increase the likelihood of a global recession. Much needed fiscal stimulus packages in major economies are under consideration, but not yet being implemented.
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Monthly Briefing on the World Economic Situation and Prospects, No. 4
June 2009
Summary:
First quarter data underscore the severity of the crisis across the globe. Although some high-frequency indicators for developed economies suggest a slowing of the downturn, economic recovery is still far from in sight.
Several large Asian economies are showing remarkable resilience, partly as a result of large fiscal stimulus packages.
Prices of oil and other commodities have rebounded owing to a renewed weakness of the dollar and less pessimistic expectations for the global economy by some market participants.
Bilateral and multilateral donors have pledged additional funds for African countries.
Recently released data on GDP growth in the first quarter of 2009…
Monthly Briefing on the World Economic Situation and Prospects, No. 9
March 2009
Summary:
Global financial markets remain highly volatile.
Global imbalances are unwinding in disorderly fashion, heightening the risk of exchange-rate volatility.
Unemployment is increasing worldwide at an alarming pace.
Many countries see their fiscal positions deteriorate significantly.
Global financial markets experienced a new wave of gyration in February as a result of heightened uncertainty about the viability of?banks in major developed countries and intensified financial stresses in Central and Eastern Europe. At the same time, the adverse impact of the global financial crisis on economic activity continued to deepen, with a number of economies, including Japan,…
Monthly Briefing on the World Economic Situation and Prospects, No. 6
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