World Economic Situation and Prospects 2013

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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. WESP 2013 will highlight the continuing Euro debt crisis, the protracted jobs crisis and the possibility for the world economy to plunge back into another recession. 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.



Executive Summary

As foreseen in last year’s issue of this report, the world economy weakened considerably in 2012. A growing number of developed economies, especially in Europe, have already fallen into a double-dip recession, while those facing sovereign debt distress moved even deeper into recession. Many developed economies are caught in downward spiralling dynamics from high unemployment, weak aggregate demand compounded by fiscal austerity, high public debt burdens, and financial fragility.


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