Outlook

Recent developments in the United States, Japanese and European economies, combined with a performance from the Chinese economy than was slightly better than expected, support a moderately optimistic outlook for global growth in 2014. Forecasts place the global economy's growth rate at 2.9%, with growth picking up in both developed and developing countries. GDP growth in Latin America and the Caribbean is expected to rally somewhat and the region could post a rate of around 3.2%, on the assumption of improving external conditions driving export growth. An upturn in the regional growth rate will depend, in part, on continued recovery in Mexico and better growth performance in Brazil, both of whose growth rates lagged the regional average in 2013.

Related Subject(s): Economic and Social Development