Global economic outlook – 1st quarter 2009
14 Jan 2009
Deloitte Research has put out its first quarter Global Economic Outlook, which notes that the world economy is experiencing a 'nearly synchronous' decline in growth, a rapid drop in commodity prices, and a serious downturn in trade due to continuing credit constraints.
But the most surprising event of the worldwide financial crisis may be the change in mindset about what the proper role of government is in the economy. Governments are navigating a new landscape, contemplating the unmentionable, and taking actions once thought inconceivable. There is almost too much to absorb. In this issue of the quarterly Global Economic Outlook (PDF 4,210k), Deloitte Research global economists attempt to make sense of what is going on, in addition to providing their usual outlook for the near term future. Here is what to expect in this report:
- Analysis of some of the risks and opportunities stemming from the global crisis
- Views on how the emerging markets are faring in this crisis
- A look at how monetary policy is working, or not working, during the current crisis
- Outlooks on nine major countries/regions beginning with the US economic downturn and the efficacy of the policy responses, both past and future. We also look at the economics of the Eurozone, the United Kingdom, Russia, India, China, Japan, Latin America, and the Middle East