The global economy continues to grow but uncertainty has gripped observers about the sustainability of growth in the world’s three biggest markets: the United States, Europe and China. In the US, growth has been disappointing and the job market appears to be going nowhere. In Europe, the sovereign debt crisis and the policy response have conspired to alarm markets. Finally, China’s tightening of monetary policy and efforts to cool an overheated property market have raised concerns that growth will slow.
In the latest issue of Deloitte’s quarterly Global Economic Outlook, the company’s economists peruse the economic environment and place these events in perspective. They offer insights about the durability of recovery and the remaining risks in the world’s major markets: Brazil, China, the Eurozone, India, Japan, Russia, the United Kingdom, and the United States. In addition, they examine the differences in opinion about the role of fiscal policy amidst economic recovery. They offer some rules of thumb as to when deficit reduction works and when it does not.
To view the report, visit Deloitte.