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DECPG Weekly Global Economic Brief (English)

Some of the headings included in this issue of the Development Economics Prospects Group (DECPG) weekly global economic newsletter are as follows: U.S. economy in Fist Quarter (Q1) contracted less than previously estimated, while consumer spending climbed the most in six years in May; Eurozone Purchasing Managers Index (PMI) hit a four-year high in June; No agreement was reached between Greece and its creditors after a week of discussions; South Korea cut 2015 growth outlook, reflecting the impact of Middle East Respiratory Syndrome (MERS); Brazil’s unemployment rate rose to a five-year high; As the U.S. economy improves, the U.S. Federal Reserve is expected to begin to gradually raise policy rates in the near term, an event widely referred to as “liftoff”; The recovery in advanced countries should help support activity in emerging and developing countries; Other major central banks remain firmly committed to policy easing, mitigating the impact of an incoming normalization of U.S. policy interest rates; The liftoff and subsequent tightening cycle are expected to proceed smoothly.

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Citation

Chen,Derek Hung Chiat Kambou,Gerard Gong,Xinghao

DECPG Weekly Global Economic Brief (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/774381468189574899/DECPG-Weekly-Global-Economic-Brief