Global Economy Is Finally Stabilizing Following The Global Financial Crisis And Great Recession

1084 WordsOct 4, 20165 Pages
The global economy is finally stabilizing following the global financial crisis and Great Recession. Our base-case outlook for average annual real growth between 2015 and 2020 is between 3 and 4 percent Lower global commodity prices are an important factor supporting stronger economic growth. Although economies that are dependent on commodity exports may suffer, lower input prices for industry as well as lower fuel prices for households will provide a boost to aggregate demand and global growth. We expect emerging economies to continue to grow by more than 4 percent (contributing $16.2 trillion to global growth through 2020 at market exchange rates), while the growth rate of advanced economies is forecast to exceed 2 percent (contributing $13.5 trillion through 2020) for the first time since 2010. The United States is leading the recovery among advanced markets, and we expect the country to be a significant contributor to global growth through 2020. However, we anticipate economic performance to continue to diverge within both the emerging and developed market groupings based on key policy choices, as governments grapple with structural reforms in the context of reduced fiscal and monetary stimulus. In this regard, strong leadership and bold government actions will determine whether national economies can escape from the new mediocre of stable but low growth. Australia resources industry (BHP) Australia has a rich haven of resources in the oil, gas and energy industries.

More about Global Economy Is Finally Stabilizing Following The Global Financial Crisis And Great Recession

Open Document