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Q4 2014 Macroeconomics Update: Recession - how bad? How long?

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09 December 2014

Q4 2014 Macroeconomics Update: Recession - how bad? How long?

Report summary

'Economic slowdown' and 'recession' have been grabbing the headlines recently. But the recent slowdown must be put into context. On a dollar basis, global output will still grow by US$1.3 trillion this year - more than in 2012 and 2013.  Although Japan and Italy are in recession, other economies such as the UK, the US and Canada are performing better than expected. Hence our global GDP growth forecast remains unchanged at 2.4% this year. 

Table of contents

  • Executive Summary
  • Recession fears
  • US driven by energy
  • Europe: a story of extremes
  • Japan's early signs of crisis?
  • Russia at risk
  • Conclusion

Tables and charts

This report includes 7 images and tables including:

  • Global GDP growth forecast: WM vs. IMF and WB
  • Contribution to Global GDP growth (annual %)
  • China GDP by sector
  • Drivers of US GDP growth (trillion US$, 2009 prices)
  • Q4 2014 Macroeconomics Update: Recession - how bad? How long?: Image 5
  • Europe Real GDP index (2008 = 100)
  • Contribution to Russian GDP growth (QoQ)

What's included

This report contains:

  • Document

    Q4 2014 Macroeconomics Update: Recession - how bad? How long?

    PDF 376.80 KB