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World Economic Situation and Prospects 2009

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The World Economic Situation and Prospects (WESP) is the definitive report of the United Nations on the state of the world economy. One of the most highly anticipated economic reports from the United Nations, it is jointly produced by the Department of Economic and Social Affairs, the United Nations Conference on Trade and Development and the five United Nations Regional Commissions. It provides an overview of recent global economic performance and short-term prospects for the world economy and of some key global economic policy and development issues.

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Regional developments and outlook

Economic activity plummeted precipitously in the developed country region over the course of 2008, with many of the major economies now technically in recession. Concerns of policymakers over inflationary pressures in the summer of 2008, resulting from the surging commodity prices and possible second-round effects via increasing wage pressures, have shifted quite dramatically to concerns over real activity and the heightening risks of a protracted recessionary period.

English

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