January 2012
Summary:
Faltering global economic growth in 2011
High unemployment is the Achilles Heel of the recovery
Renewed volatility and heightened risk in financial markets in 2011
The pace of global economic growth slowed markedly in 2011. While official data covering the full year are not available for most?countries, world gross product is estimated to have increased by 2.8 per cent in 2011, compared with 4 per cent in 2010. The slowdown was most severe for developed countries, where the average growth rate was cut in half, sliding from 2.7 per cent in 2010 to 1.3?per cent in 2011. Developing country growth also decelerated by 1.5 percentage points to an average of a still robust…
Monthly Briefing on the World Economic Situation and Prospects, No. 39
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