World overview
- Author: International Trade Centre
- Main Title: International Wooden Furniture Markets
- Publication Date: November 2005
- DOI: https://doi.org/10.18356/fe0b3a7c-en
- Language: English French, Spanish
The global economic outlook deteriorated in 2002 as a result of severe short-term disturbances, waning consumer confidence and the slowdown in the major economies into near-recession levels. The fragile growth prospects did not materialize in the required strength during 2002, and the geo-political conflicts in the Gulf region, exacerbated by the SARS (severe acute respiratory syndrome) episode in Asia, postponed recovery further. Estimates of world economic growth settled at the 2.5% level for 2003 (close to the recession threshold), and somewhat higher at 3%–3.5% for 2004. The growth prospect is still subject to many uncertainties.
© United Nations
ISBN (PDF):
9789213615300
Book DOI:
https://doi.org/10.18356/18c37546-en
Related Subject(s):
International Trade and Finance
Sustainable Development Goals:
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