Uneven Global Growth Suggests Fragile Recovery via Dallas Fed

Uneven growth across countries is contributing to a fragile recovery, with some short-term risks easing and the focus shifting toward medium-term risks. With the euro-area crisis remaining a pressing risk to the global economy, developments in the region are closely watched. Interest has also shifted to Japan, where a new round of quantitative easing has begun.

Global Economic Activity Soft Patch

The world economy is expected to grow at a moderate 3.3 percent rate in 2013, revised down from the January forecast of 3.5 percent from the International Monetary Fund (IMF). The outlook for 2014, however, appears more solid, with global growth accelerating to 4 percent. Emerging economies continue to bolster world growth as advanced economies lag behind (Chart 1).

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