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tradearabia.com Last year was a year of pronounced economic uncertainty for many countries around the world and for most of them this trend will linger into 2013, according to the new report. In Europe, a fiscal crisis continues to kindle doubt about the survival of the Euro, creating uncertainty that is casting a shadow on real economic performance in 2013, said the first-quarter edition of Deloitte’s Global Economic Outlook. It also [...] Economist and NYU professor Nouriel Roubini gave an interview with Bloomberg in Turkey to discuss the fiscal cliff and his global economic outlook.
He has a particularly bleak global outlook and, although it is not his most likely scenario, believes there is a chance that an economic perfect storm might devastate the global economy in 2013: The perfect storm is not my baseline scenario. My baseline scenario is one of low economic growth in advanced economies and recession in [...]  The US Conference Board’s report on the global economy is negative on all fronts. The growth is over. from Ambrose Evans-Pritchard: The catch-up boom in China, India, Brazil is largely over and will be followed by a drastic slowdown over the next decade, according to a grim report by America’s top forecasting body. Europe’s prognosis is even worse, with France trapped in depression with near zero growth as far as 2025 and Britain struggling [...] from Ambrose Evans-Pritchard: The catch-up boom in China, India, Brazil is largely over and will be followed by a drastic slowdown over the next decade, according to a grim report by America’s top forecasting body. Europe’s prognosis is even worse, with France trapped in depression with near zero growth as far as 2025 and Britain struggling to raise its speed limit to 1pc over the next three Parliaments. The US Conference Board’s global economic [...] HONG KONG (MarketWatch) — The Reserve Bank of Australia on Tuesday surprised by lowering its policy interest rate by 0.25 percentage points to 3.25%, citing a weakening global economic outlook, uncertainty over Chinese growth and a “somewhat” softened domestic labor market. The rate cut, which takes effect Wednesday, is the RBA’s third since May, with the total reduction in the benchmark cash rate target amounting to one percentage point since [...] From Pragmatic Capitalism: The outlook for the U.S. and global economy remains uncertain at best. Despite some signs of optimism (particularly in U.S. data), there remains a number of red flags that overhang global economies. I still think we’re not staring at a recession in the USA, but I’d be lying if I said there weren’t some worrisome signs. That said, here are a few of the items that really jump out [...] PARIS (AP) — The 17-country eurozone risks falling into a “severe recession,” the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe’s central bank to act quickly to keep the slowdown from dragging down the global economy. OECD Chief Economist Pier Carlo Padoan warned the eurozone economy could contract by as much as 2 percent this year, a figure that the Paris-based organization had [...] From Frank Holmes of U.S. Global Investors: After a year of neglect from investors who favored bullion, gold equities need resuscitation. Going back to April of last year, gold stocks have been undervalued compared to bullion. I discussed this disconnect back in June 2011 and again in August. This trend has been accelerating recently: At the end of March, the spread between the NYSE Arca Gold Miners Index and gold bullion was [...] From Pragmatic Capitalism: Gary Shilling of A. Gary Shilling and Co. is warning of an increasingly dire global economic outlook. Shilling has been one of the more accurate macro forecasters in recent years with excellent calls on U.S. Treasury bonds and a lingering malaise in the U.S. He is now becoming increasingly concerned about the global economy. He says Europe is in the same situation the U.S. was in 2007 where a [...] via CNBC: So acute are the risks that few economists are now willing to bet heavily against another global recession in 2012. By common consent, the world economic outlook is much darker today than it appeared in the early autumn. The eurozone crisis has worsened with contagion spreading through Italy and Spain and now lapping at the door of France. Recoveries remain feeble in other advanced economies. And emerging markets are beginning [...] Kenneth Jacobs, chief executive officer of Lazard Ltd., spoke about the global economy, the European debt crisis and banking regulations during an interview with Judy Woodruff on Bloomberg Television.
Watch full interview here:
- BLOOMBERG TELEVISION
On the global economic outlook for next year:
“Assuming we get through this crisis without a discontinuity, a break in the markets, a catastrophe, then next year probably looks a lot like this year did: modest economic [...] 09:30 ZURICH, SWITZERLAND – The Swiss National Bank reacted Wednesday morning 3 August to the rapid rise of the Swiss franc, calling it “massively overvalued” and saying it will “very significantly increase the supply of liquidity to the Swiss franc money market over the next few days.”
“This current strength of the Swiss franc is threatening the development of the economy and increasing the downside risks [...] via Economist: THIS was supposed to be a stress-free year for the global economy. By January the financial crisis had faded and Europe’s sovereign-debt crisis seemed less acute. America’s economy was resurgent. Investors piled into equities and sold some of the government bonds they’d bought for troubled times. If there was a worry, it was that emerging economies would grow too quickly, inflating commodity prices. The year [...] In China’s main economic indicator,Shanghai,the real estate market cooled sharply in the second quarter of this year.Only 3.8 billion yuan (US$560 million) worth of major real estate acquisition deals were concluded in the city between April and June, compared with 18.9 billion yuan in the first quarter, Jones Lang LaSalle, a major real estate services provider, said in a latest research. “Investors have shown more caution toward making acquisitions, particularly in [...] |
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