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At a Glance…

The world economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • The global economy will contract this year by 0.5 per cent, its first annual decline since 1946.

  • World trade will fall by 8.2 per cent in 2009.

  • Among the G7, Japan and Italy will be the worst affected, with a 15 and 40 per cent chance, respectively, of the recession lasting 9 quarters or more.

  • Fiscal and monetary easing since 2008 offset 1–1.6 percentage points of the potential declines in the G7 economies this year, except in Italy where fiscal stimulus has been minimal.

  • Government bond spreads in the Euro Area have widened sharply since 2007, partly due to the sudden rise in government debt.

Type
Articles
Information
National Institute Economic Review , Volume 208: Ten Years of EMU , April 2009 , pp. 2
Copyright
Copyright © 2009 National Institute of Economic and Social Research

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