Global Macroeconomic Forecast: Asia – Pacific Region With Highest Growth
Macroeconomic research company Capital Economics published its macro-economic forecast for next two years. Global GDP will rise 2.8 percent in 2013 and 3.3 percent in year 2014. While the G7 countries will grow just 0.7 percent in 2013 and 1.3 percent in 2014, the GDP of Asia – Pacific region will rise by about 6 percent in next two years. United States Of America GDP will go up by 2.5 percent. Unfortunately huge market of countries with Euro currency will remain in recession with -1 % GDP decline. Japan will grow by 0.6 percent, United Kingdom by 1.5 and Canada by 1.3 percent. Amogst countries from Asia – Pacific region growth will remain the fastest in China. China´s GDP growth will not be as spectacular as in previous years, but still robust 8 percent in next year and 7.5 percent in 2014. India will reach 5 percent growth of GDP in both years. Predictions for South Korea are 3.5 percent next year and 4.0 percent in 2014. Australia will grow 3 percent in following two years. Economic growth in Emerging Europe will not be as robust as in Asia – Pacific region. Capital Economics forecasts 1.5 percent GDP growth in 2013 and 2.5 percent in 2014 for emerging economies of Eastern Europe. Latin America will reach 2.5 percent GDP rise in 2013 and 3.5 percent in 2014. MENA countries (Middle East and North Africa) will grow by 3.5 percent in 2013 and by 4.3 percent in 2014. Stabile growth will be recorded in Sub-Saharan Africa – The region will grow by 4.5 percent in next year and 5.5 percent in year 2014. The fastest developing country in region will be Nigeria with growth of 6.5 percent in 2013 and 7.o percent in 2014. Nigeria reached robust growth already in last three years with growth 7 – 8 percent each year. In period 2000 – 2008 Nigeria reached average growth of 8.9 percent.