Home / Knowledge / News / Growth remains sluggish in advanced economies: WB Report
Growth remains sluggish in advanced economies: WB Report
17
Jun '13
Despite improvement in financial conditions, growth remains sluggish in advanced economies, according to a latest report of the World Bank.
 
The report “Global Economic Prospects - June 2013: Less volatile, but slower growth” says, “The global economy is transitioning into what is likely to be a smoother and less volatile period. However, the recovery is uneven.”
 
“For high-income countries, fiscal consolidation, high unemployment and still weak consumer and business confidence will continue to dampen growth this year,” says the report.
 
In developed economies, financial market risk indicators, such as credit default swap rates, sovereign debt yields, and stock-market volatility indicators have all improved significantly since June 2012.
 
While the challenges faced by high-income countries to restore financial-sector health, reform institutions and get fiscal policy back onto a sustainable path persist, the likelihood that these challenges will provoke a major crisis has declined markedly, states the report.
 
However, the real-side activity remains sluggish, especially in Europe, where it is being held back by weak confidence and continued banking sector and fiscal restructuring.
 
On the other hand, the recovery is on more solid ground in the United States, where a fairly robust private sector recovery is being held back, but not extinguished by fiscal tightening.
 
Meanwhile, in Japan, a dramatic relaxation of macroeconomic policy appears to have sparked an uptick in activity, at least over the short-term, the report states.
 
Global GDP is expected to expand about 2.2 percent this year and strengthen to 3.0 percent and 3.3 percent in 2014 and 2015, according to the report.
 
For high-income countries, the report projects a modest 1.2 percent growth this year, followed by 2 percent and 2.3 percent growth in 2014 and 2015, respectively.
 
The Euro Area is now estimated to contract by 0.6 percent in 2013, compared with the previous forecast of 0.1 percent, and is projected to slowly improve to a modest 0.9 percent in 2014 and 1.5 percent in 2015, states the report.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 29th Mar 2017

Indonesian garment exports to remain stable in 2017: API

Garment exports from Indonesia are likely to remain stable this year...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Myanmar CMP garment exports to touch $2.2bn in 2017

Cutting, making and packaging (CMP) garment exports from Myanmar are...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search