Global outlook

With no major shocks, global economic growth is expected to slow to 3¼ per cent in 2005, following an increase of 4 per cent in 2004 (see table I.1). World economic activity continues to follow a largely cyclical pattern, with a strong upturn in late 2003 and the first half of 2004 resulting in some major economies moving closer to full capacity utilization. This has given rise to a number of developments that are likely to cause global growth to slow towards its current longer-term potential.

Sustainable Development Goals:

Decent Work and Economic Growth