As Emerging Market Growth Slows, Moody’s Thinks Advance Economies Will Drive Global Growth
Moody’s Investors Service has recently published a detailed report entitled: “Global Macro Outlook 2014-15: Role Reversal, as Advanced Economies Emerge as Engine of Recovery.”
In the report, Moody’s noted that reforms and accommodative monetary policy after the global financial crisis and the euro area crisis are slowly bearing fruit in advanced economies with the US economic activity set to pick up during 2014 on the “back of strong corporate balance sheets, favourable financing conditions, a smaller fiscal drag and strong price competitiveness.” In addition and after two years of recession, they believe the euro zone will contribute positively to global growth in 2014 as exporters benefit from competitiveness-improving reforms and as constraints on households’ budgets ease.
By contrast, Moody’s thinks that for some emerging markets, a range of factors point to slower growth than in recent years.
You can view the press release, Moody’s: Advanced economies likely to drive global growth in 2014-15 as emerging markets slow down, on the rating agency’s website here. However, a Google search for “Global Macro Outlook 2014-15: Role Reversal, as Advanced Economies Emerge as Engine of Recovery,” reveals the full report (with a good table outlining their growth projections) can be downloaded here from the website of the Business Times in Singapore.
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