Major economies will reach the turning around point at end of 2014. This seems to be the general consensus among mainstream economists. That is if the major economies stay the course they are on right now, which means no new wars, major earthquakes, or political disasters. The United States will lead the way with slow growth into next spring barring any sort of self inflicted austerity measures or forces defaults the economy should start reviving at a quicker pace next summer. China’s frenetic pace has slowed more than they are willing to admit, even to themselves, but no one is expecting a hard landing for them. Slow expansion in their domestic service economy is not compensating for stagnation in their export economy. Europe is in the worst shape of the developed economies. Southern Europe’s economies are still contracting although at a much slower pace than previously. It is hoped they will hold it together and through 2014 and stabilize in 2015. Meanwhile Europe’s position is fragile and susceptible than anyone of any sort of major disruption. marketwatch/story/oecd-unemployment-wont-fall-until-late-2014-2013-07-16
Posted on: Fri, 19 Jul 2013 18:33:13 +0000
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