Global Economic Prospects 2014

Five years after the financial crisis, the world economy is showing signs of bouncing back. Read more ...

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Prospects Weekly: Q3 Euro Area GDP growth remained positive

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Despite escalating debt concerns, Q3 Euro Area GDP growth remained positive mostly on account of robust growth in the two largest economies Germany and France. Q3 GDP growth was even stronger in the US, Japan and China (all of which benefitted from the post-Tohoku bounce back), with consumer spending also being an important growth driver.

Prospects Weekly: Data releases suggests that capital good orders appear to be holding firm

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Recent data releases suggests  that capital good orders from developing countries  appear to be holding firm, despite heightened  uncertainty in the global economy. Sovereign bond spreads for emerging markets have narrowed recently, amid bolder attempts to address the eurozone debt crisis. While the decline in spreads is welcome, their sensitivity to events in Europe is worrisome.

Prospects Daily: President Obama proposes $450 billiion in jobs stimulus

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Important developments today:

1. Credit risk for European sovereigns, and commercial bank debt rises to fresh highs

2. European equity markets showed a certain degree of apathy to the plan announced by Mr. Obama last evening

 

Prospects Weekly: Ongoing debt-limit debate and disappointing growth reports weighed on the U.S. dollar

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European heads of state agreed on a €109 bn second financial package for Greece today. About one-third of the financing will be covered by debt swaps or rollovers by private bondholders. Aside from improving the terms of existing multilateral loans, the leaders also agreed to expand the European Financial Stability Facility’s mandate, including authority to buy bonds on the secondary market.

Prospects Weekly: European heads of state agreed on financial package for Greece today

Global Macroeconomics Team's picture

European heads of state agreed on a €109 bn second financial package for Greece today. About one-third of the financing will be covered by debt swaps or rollovers by private bondholders. Aside from improving the terms of existing multilateral loans, the leaders also agreed to expand the European Financial Stability Facility’s mandate, including authority to buy bonds on the secondary market.

Prospects Daily: World Bank sees Global recovery facing headwinds

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Important develoments today:

1. World Bank releases ‘Global Economic Prospects’ report, highlighting risks to world recovery

2. China’s net purchase of Japanese long-term government debt reaches record high

3. U.S. Fed Chairman Bernanke: ‘Uneven’ recovery…watch excessive budget cuts

4. OPEC: no consensus on output quotas

 

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