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

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sanjukta Dutta
Sanjukta's Studio

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search