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IfW Press Release March 10, 2006
Kiel Institute: Business Cycle Forecast:
World Economy Gradually Losing Momentum
The world economy continues to look robust at the start of 2006. The forecast for growth in the industrial countries in 2006 has been raised from 2.6 percent to 3.0 percent. While the US economy is still seen as heading for a gradual slowdown, the outlook for Japan and Europe has improved. With strong growth in China continuing for the time being, world economic growth is expected to remain on a high level. In 2007, the world economy will lose some momentum, but growth should not slip noticeably below trend rates. Inflation generally continues to be moderate and, on the assumption of stable oil prices, will decline somewhat in 2007.
Contact:
Prof. Dr. Joachim Scheide
Phone 00-49 (431) 8814-264