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Prospects for the World Economy

15 May, 2005

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World-economy-May-2020-4.pdfAuthors
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Macro-Economic Modelling and ForecastingJournal
National Institute Economic Review
Publisher
Sage Publications, London
External Resources
http://journals.sagepub.com/doi/full/10.1177/002795011824600104
Issue
246
- The global economy is set to continue to grow at a pace of slightly below 4 per cent a year in the near term.
- Oil prices have risen further and with some advanced economies appearing to be operating at close to full capacity, there is a risk that inflation will increase. Our expectation is that any rise will be limited.
- US tariff increases and confrontational trade rhetoric are adding uncertainty to the global economic outlook, with a bias towards slower growth as a consequence.
- Without a recovery in productivity growth, the pace of economic expansion in the medium term will be slower than at present. Our medium term outlook is for global growth of around 3.5 per cent a year.
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