At a glance…The World Economy

Abstract:

• Following growth of 3.1 per cent in 2013, the world economy will grow by 3.3 per cent in 2014 and 3.5 per cent in 2015.

• The pace of recovery remains slow and uneven; much of the Euro Area in particular remains very depressed, and the policy response has so far been too little, too late.

• Key risks include the normalisation of monetary policy in the US, and the associated financial market turbulence; and worsening deflationary pressures in the Euro Area exacerbated by policy gridlock.