Global Economic Conditions and Market Analysis

564 Words2 Pages
Global economic conditions The global economic conditions have a direct bearing on the local economic condition within the nation. This means that the product (SOC) has also be greatly affected in terms of demand and distribution. The global economic growth has been noted to have slowed down over 2012 and this trend is expected to be sustained over the next two years. This means there will be a downgrade to the earlier projected growth rate, though there still will be a growth rate, albeit at a lower pace than was hitherto foreseen. The UN Department of Economic and Social affairs (2013) forecasts a 2.4% global growth in 2013 and a further 3.2% global growth in 2014. This means that the recovery from the job loss that was triggered in 2008 recession takes longer. What this means for the local microeconomic situation in the country is that more people prioritize the essential and basic goods first and considering the daily consumption supply as a priority. This negatively impacts on my business since the cards that are exchanged globally, particularly during the special seasons and occasions are often considered secondary needs hence one would get into buying on either online or physically, if and when they shall have fulfilled their primary needs. Local economy's stage in the business cycle The local economic status is more promising than the external markets for my products. The IMF has pinned the current economic condition at a better standing than it was in the
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