Global Economic Outlook

Global Economic Outlook aims to pool information about the latest predictions and outlooks of international institutions, selected central banks and Consensus Economics for the euro area, Germany, the USA, the United Kingdom, Japan, China and Russia. Each issue also analyses a selected topic significantly affecting the world economy or having an academic subtext.

GEO
November 2024
In its autumn forecast, the European Commission slightly lowered the outlook for GDP growth in the EU. GDP growth should thus reach only 0.9% this year. Euro area countries will show even lower growth this year and the next. The November issue of Global Economic Outlook provides further details, with the chart in the current issue showing the development of the EU’s trade balance in goods with its largest trading partners – the USA and China. In recent years, trade between the EU and the USA has risen markedly, but EU countries have nonetheless long been a net exporter of goods to the USA. This does not go down well with President-elect Donald Trump, who plans to impose new tariffs on goods imports to the USA. The analytical part of this issue focuses on general issues related to the use of critical materials and commodities in energy and other industries, including possible geopolitical risks and the approaches taken by the EU and the USA to minimise them. Details (pdf, 1.2 MB)

2024

Unless indicated otherwise, the presented data1) are taken from the official forecasts of Consensus Forecasts (CF), the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the European Central Bank (ECB), Deutsche Bundesbank (DBB), the Federal Reserve System (Fed), the Bank of England (BoE), the Bank of Japan (BoJ) and the Economist Intelligence Unit (EIU).

1) The CNB’s External Economic Relations Division guarantees that these data are up-to-date, but cannot vouch for their correctness and quality.