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Global Economic Outlook, Q1 2014: Russia

Global Economic Outlook, Q1 2014: Russia

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Published by: Deloitte University Press on Jan 14, 2014
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Global Economic Outlook
 1st Quarter 2014
Global Economic Outlook
1st Quarter 2014
China’s government recently announced ambitious plans that could make the Chinese economy more market driven, consumer driven, transparent, and prone to profitable investing. Implementation remains a significant challenge, but it is crucial to rectiying the country’s currently unbalanced system.
Te United States celebrated the New Year with economic pain rather than champagne as it coped, once again, with the fiscal crisis that never was. However, undamentals remain strong, and growth engines should begin to pick up steam by the second hal o 2014.
Tree interrelated actors are critical to the Eurozone’s growth perormance in 2014 and beyond: acceler-ating business investments, stabilizing credit conditions, and decreasing uncertainty.
With inflation accelerating consumer spending and a declining yen boosting exports, Abenomics seems to be working. However, uncertainties about an anticipated tax increase and the degree to which the government will engage in deregulation continue to cloud the country’s growth projections.
Despite a period o slow growth, high inflation, fiscal deficits, external imbalances, political uncertainty, and poor business confidence, India has an opportunity to restore growth by implementing policies that make better use o its considerable assets.
1st Quarter 2014
Subdued investment, weak export markets, rising household debt, declining confidence, and deteriorat-ing demographics continue to weigh on Russia’s economy.
Britain is expected to have the astest growing economy in Europe in 2014, but growth remains histori-cally modest. Te United Kingdom will need a strong rebound in capital spending and in consumer incomes to maintain its improving prospects.
Deteriorating fiscal balances, an increasing external deficit, high inflation, poor business investment, and currency troubles continue to hamper Brazil’s economy.
Special topics
Te end o the commodity price boom is leaving many countries scrambling or ways to diversiy their economies accordingly.
Many emerging markets aced financial volatility in the wake o the US Federal Reserve’s discussion about tapering. Countries with poor undamentals and weak policies have been hardest hit during this period o uncertainty, and sustaining growth will require a renewed ocus on undamentals.
GDP growth rates, inflation rates, major currencies versus the US dollar, yield curves, composite median GDP orecasts, composite median currency orecasts, OECD composite leading indicators

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