The global economy is poised for a turn-around in 2014, with stronger growth in most regions. At this time a year ago most output projections for 2013 pointed to lower growth rates than 2012. Today, both the Conference Board -TCB- and the International Monetary Fund -IMF- are optimistic about the global economy in 2014 – truly a pleasant change.
Part of the good news is that the optimistic projections are broad-based and the most notable improvements are in the U.S. and Europe economies.
TCB ouput projections for 2013 vs. 2014 are:
- Global 2.8% vs. 3.1%
- Mature 1.0% vs. 1.7%
- Emerging 4.7% vs. 4.6%
IMF output projections for 2013 vs. 2014 are:
- Global 2.9% vs. 3.6%
- Mature 1.2% vs. 2.0%
- Emerging 4.5% vs. 5.1%
The IMF is slightly more optimistic than TCB, particularly with its output projections for the emerging countries. Let’s hope they are correct.
©Copyright 2011 by CBER.