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AT a Glance … The World Economy

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Our baseline forecast is for global growth of 3.5 per cent in 2012. Growth will accelerate to 4 per cent in 2013, representing a downward revision of about 1/2 percentage point in each year compared to our last forecast. This assumes a delayed but ultimately successful resolution of the Euro Area crisis. Nevertheless, we expect a mild recession in the Euro Area as a whole, as well as in the UK. We forecast growth of about 2 per cent in the US this year, while China and India, although slowing, will continue to drive world growth.

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  • N/A, 2012. "AT a Glance … The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 219(1), pages 2-2, January.
    • Handle: RePEc:sae:niesru:v:219:y:2012:i:1:p:f2-f2
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