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