Prospects for Development

Global Economic Prospects 2013

Global economy remains fragile; high-income countries suffering from slow growth. Read more ...

Development Prospects

Providing information, analysis, and advice on global trends in the world economy.  Find out more ...

Global Economic Monitor

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Japan

Prospects Daily: Japan’s GDP contracts at annualized 3.5% (q/q) in third quarter

Financial Markets…Global stock markets fluctuated between gains and losses, following three consecutive days of losses last week, as strong Chinese exports data in October offset worries over a prospect of the so-called U.S. fiscal cliff and Greek woes. The benchmark MSCI global equity index just slipped 0.04% in afternoon trading.

Prospects Daily: European stocks slipped on Friday with the benchmark index falling to a three-week low

Financial Markets…European stocks slipped on Friday with the benchmark index falling to a three-week low as early optimism on Spain’s new austerity measures was short-lived.

Spanish 10-year bond yield rose back above 6% amid uncertainty over its troubled banks before stress test results, fading optimism on the country’s debt cutting plan, and a looming Moody’s rating review which may cost the country its investment grade rating. 

Prospects Weekly: Latest bout of G3 monetary stimulus is likely to increase capital flows to developing countries

The latest bout of G3 monetary stimulus is likely to increase capital flows to developing countries, but may be limited by lingering economic uncertainty, and lower interest rate spreads. Notwithstanding the recent easing of financial market tensions, the anticipated rebound in real-side activity is lagging behind.

Prospects Weekly: The looming US “fiscal cliff” is one of the main downside risks to the global economy in 2013

The looming US “fiscal cliff” is one of the main downside risks to the global economy in 2013, with Latin America and East Asia and Pacific to be among the most affected if it materializes.

Prospects Daily: Japanese Yen strengthens as the country’s current account turns to surplus again

Important developments today:

1. Japanese Yen strengthens as the country’s current account turns to surplus again

2. Japan’s current account returns to surplus in February

Prospects Weekly: First trade data released for September are not promising

First trade data released for September are not promising, with most countries reporting lower import volumes, suggesting that the risk of a worldwide deceleration in demand is real. Meanwhile with all three major rating agencies downgrading Spain’s long-term sovereign debt rating in the past few days, the sovereign credit quality-gap between developing and developed countries continued to narrow.

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

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

 

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