Crisis of European Monetary Union Dampens Global Growth Momentum. Medium-term Forecast for the World Economy Until 2016
Following a slowdown in economic activity in 2012, economic growth is expected to accelerate again in the industrialised countries, reaching an average annual rate of 2.0 percent between 2011 and 2016. In the USA, GDP will grow at a brisker pace (+2.1 percent) than in the EU 27 (+1.7 percent) and Japan (+1.6 percent per year), respectively. As many euro countries will only slowly overcome the financial market crisis, economic growth in the euro area will be a mere 1.4 percent per year. In the new EU countries, output will expand at more than twice this pace (+3.2 percent per year). China and India will continue to record the highest growth (+8.6 percent and +8.4 percent per year, respectively). In the other developing countries and emerging market economies, GDP is expected to grow by around 4.5 percent per year until 2016.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 17 (2012)
Issue (Month): 1 (March)
|Contact details of provider:|| Postal: |
Phone: (+43 1) 798 26 01-0
Fax: (+43 1) 798 93 86
Web page: http://www.wifo.ac.at/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:wfo:wquart:y:2012:i:1:p:24-36. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ilse Schulz)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.