Global GDP growth: Tempered recovery in the second half of 2014

The latest update of the BBVA GAIN in November tempered our estimations for World GDP growth in the 2nd half of 2014. The data from national accounts for the second quarter is now complete and yields a growth figure of 0.6% in Q2, consistently with our previous update; however, both the estimate for the third quarter (nowcast) and the forecast for the last quarter of 2014 were revised downwards from 0.8% to 0.7%, as shown in Table 1. All in all, it is a fine tuning revision due to incoming information, which does not hamper the recovery path in the 2nd half of 2014.

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