Economic forecasts generally go with the usual caveats, but the IMF's global economic forecasts suggest a reasonably healthy global economy in the coming five years compared to the economic environment since 1980.
Per its October 2012 World Economic Outlook (updated in Jan 2013), the IMF expects global GDP growth of 3.5% in 2013, just above the average of 3.4% from 1980-2008 (the great recession of 2009 saw a decline of 0.6% in global GDP). The outlook for the following years is stronger with growth of 4% or higher.
Meanwhile, global consumer price inflation is expected to be well contained, remaining below 4%; similar to the levels in 2002 to 2006. Global consumer price inflation averaged 13% from 1980-2008.
Expected global growth is slightly below the rates seen in the 2003 to 2007 period, but still seems quite impressive if we look at a longer time period. Maybe the new normal ain't so bad after all!
Per its October 2012 World Economic Outlook (updated in Jan 2013), the IMF expects global GDP growth of 3.5% in 2013, just above the average of 3.4% from 1980-2008 (the great recession of 2009 saw a decline of 0.6% in global GDP). The outlook for the following years is stronger with growth of 4% or higher.
Meanwhile, global consumer price inflation is expected to be well contained, remaining below 4%; similar to the levels in 2002 to 2006. Global consumer price inflation averaged 13% from 1980-2008.
Expected global growth is slightly below the rates seen in the 2003 to 2007 period, but still seems quite impressive if we look at a longer time period. Maybe the new normal ain't so bad after all!
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