The global economic outlook is pressured by uncertainties, fragmentation, and debt, according to the World Economic Forum’s Chief Economists Outlook survey report released on Thursday. The report is based on a survey of the world’s leading private sector chief economists.
Some 56% of the respondents expect weaker economic growth this year, while only 17% estimate improvement, 44% of economists expect strong growth in the US, and 61% of respondents said they are worried President-elect Donald Trump’s second term will have a long-term impact on the global economy.
The report showed that 97% of economists estimate an increase in the US public debt, while 94% expect persisting higher inflation and risks to remain.
Forecasts for growth in Europe remain the weakest for the third consecutive year, as 74% of the respondents expect it to be weak this year. China’s growth momentum is expected to weaken due to stagnant consumer demand and declining production, resulting in a more uncertain global economic recovery. About 79% of the economists expect loose monetary policy in the country.
Some 64% of the respondents estimate a loose monetary policy in the US and 81% in Europe.—AA
