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The World Bank has released its biannual Global Economic Prospects document and has slashed its 2013 growth forecasts from 3% to 2.4%, just one point above last year. Here are the full forecasts:
2.3% global GDP growth in 2012 (down from 2.5%)
2.4% global GDP growth in 2013 (down from 3.0%)
3.1% global GDP growth in 2014 (down from 3.3%)
3.3% global GDP growth in 2015
This is more bearish than me. I’m reckoning on about 2.7% largely on the back of slight improvements in Europe and the US.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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