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Global Economic Outlook

Author

Listed:
  • Naisbitt, Barry
  • Cornforth, Ed
  • Hurst, Ian
  • Liadze, Iana
  • Kaya, Ahmet
  • Sanchez Juanino, Patricia
  • Millard, Stephen
  • Bernard, Shama

Abstract

After the rebound in GDP following the pandemic, the rise in inflation and the higher policy interest rates that it led to have slowed GDP growth in the past twelve months, especially in the major advanced economies. Figure 3 shows that the Euro Area has seen very little growth in the past three quarters and in the United States annualised quarterly growth has run at around 2 per cent. At the start of the final quarter of 2023 there is no evidence of a sustained upswing in the GDP growth in the major advanced economies. However, despite low quarterly growth during the year, it is possible that annual growth comparisons might show a small pick-up in the final quarter of this year in the Euro Area, Japan, and Canada because of the generally poor performance in the final quarter of last year.

Suggested Citation

  • Naisbitt, Barry & Cornforth, Ed & Hurst, Ian & Liadze, Iana & Kaya, Ahmet & Sanchez Juanino, Patricia & Millard, Stephen & Bernard, Shama, 2023. "Global Economic Outlook," National Institute Global Economic Outlook, National Institute of Economic and Social Research, issue 12, pages 7-37.
    • Handle: RePEc:nsr:niesrb:i:12:y:2023:p:7-37
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