Publications | Economic Analysis and Policy Division

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06 July 2009

Monthly Briefing on the World Economic Situation and Prospects, No. 8

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

02 July 2009

Monthly Briefing on the World Economic Situation and Prospects, No. 4

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. Download the World Economic Situation and Prospects Monthly Briefing No. 4 Monthly Briefing on the World Economic Situation and Prospects, No. 4

07 May 2009

Monthly Briefing on the World Economic Situation and Prospects, No. 9

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

04 May 2009

Monthly Briefing on the World Economic Situation and Prospects, No. 6

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

05 February 2009

Monthly Briefing on the World Economic Situation and Prospects, No. 7

April 2009 Summary: Unemployment, trade and capacity utilization face sharpest deterioration since World War II Widening gaps in external financing for developing countries call for large international transfers G20 reaches agreement on provision of $1.1 trillion in additional funding for emerging and?developing countries, on substantial reform of financial regulation and on full commitment to?ODA pledges Countries continue to scale up policy measures to stabilize the financial sector and stimulate the real economy According to the World Trade Organization, the volume of world goods trade faces its largest decline since World War II, plunging by 9 per?cent in 2009. In addition to factors… Monthly Briefing on the World Economic Situation and Prospects, No. 7

03 February 2009

Monthly Briefing on the World Economic Situation and Prospects, No. 5

February 2009 Summary:? The impact of the financial crisis on economic activity has intensified worldwide. Industrial production and international trade flows have declined sharply, and unemployment is rapidly rising globally. Countries need to move more swiftly to forceful and globally coordinated policy actions to prevent the financial crisis from turning into a large-scale economic and social crisis. The world economy has begun 2009 on a grim note. The major developed economies had already fallen into a deep recession, while developing countries are now also experiencing a dramatic downturn. After tens of trillions of dollars of?financial wealth have evaporated, the global financial… Monthly Briefing on the World Economic Situation and Prospects, No. 5

13 January 2008

Monthly Briefing on the World Economic Situation and Prospects, No. 3

December 2008 Summary:? The world is now mired in the most severe financial crisis since the Great Depression. According to the United Nations baseline forecast, world gross product (WGP) is expected to grow by only 1.0 per cent in 2009, a sharp deceleration from the 2.5 per cent growth estimated for 2008 and well below the more robust growth in previous years. Given world population growth of 1.2 per cent, this means income per capita for the world as a whole is expected to decline in 2009. Note: This edition of the Monthly Briefing presents the highlights of the global economic outlook as in chapter one of the?
World Economic Situation and Prospects 2009, which was launched on 1… Monthly Briefing on the World Economic Situation and Prospects, No. 3

12 January 2008

Monthly Briefing on the World Economic Situation and Prospects, No. 2

November 2008 Summary: In response to the intensified global financial crisis, a large number of countries adopted extensive emergency plans in October 2008, following a more comprehensive and internationally concerted approach. However, great uncertainties remain in global financial markets. The impact of financial strains on economic activity is deepening and the crisis is spreading rapidly towards a growing number of developing countries and the economies in transition.? Download the World Economic Situation and Prospects Monthly Briefing No. 2 Monthly Briefing on the World Economic Situation and Prospects, No. 2

11 January 2008

Monthly Briefing on the World Economic Situation and Prospects, No. 1

October 2008 Summary:? The world economy is facing the most severe financial crisis since the Great Depression of the last century. The risk for a global recession has heightened significantly and volatility of commodity prices has increased further. If the situation continues to deteriorate, the progress towards the achievement of the MDGs could be in great jeopardy. Download the World Economic Situation and Prospects Monthly Briefing No. 1 Monthly Briefing on the World Economic Situation and Prospects, No. 1