Global GDP: 0.8% QoQ in 3Q14, stable estimation but slight downward revision in 4Q

Our latest monthly update of the BBVA GAIN1 makes some minor corrections to our estimates of World GDP growth. The October’s update of quarterly national accounts around the world consolidated the figure for the 2nd quarter around 0.6%. Moreover, the estimate for the third quarter (nowcast) remains unchanged while the forecast for the last quarter of the present year decreases modestly, almost 0.1 pp, as shown in Table 2. The most recent information is consistent with our belief that the path of economic recovery initiated in the 2nd quarter will hold throughout the second half of 2014.

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