Moody's says downside risks to global economy have abated

SYDNEY Tue Feb 12, 2013 12:17pm IST

Related Topics

SYDNEY (Reuters) - Moody's Investor Services on Tuesday said downside risks for the global economy had receded in the past three months, though a number of dangers still remained.

In its latest Global Macro Risk Scenarios report, the ratings agency also said it expected economic growth to be slow in many countries.

"While our central forecasts are little changed, the downside risks have definitely abated over the past three months," said Colin Ellis, Moody's Senior Vice President for Macro Financial Analysis.

"However, we still expect a subdued global recovery with sub-trend growth in most advanced economies over the near term, alongside a relatively soft pace of expansion in emerging markets as well."

The ratings agency expects real growth for the G20 of around 2.9 percent in 2013, followed by 3.3 percent in 2014. It forecast growth in the United States this year, but expected the euro area as a whole to stagnate during 2013.

(Reporting by Wayne Cole; Editing by John Mair)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared
Sensex up over 300 points on energy reform, elections

Sensex up over 300 points on energy reform, elections

The BSE Sensex surges over 300 points and the Nifty gains more than 100 points after the government's energy reforms lead to a rally in energy firms, while wins by Prime Minister Narendra Modi's party in two state elections raise expectations for additional reforms.  Full Article 

REUTERS SHOWCASE

State Elections

State Elections

Modi's BJP makes big gains in state polls.  Full Article 

POSCO Plant

POSCO Plant

India delays decision on iron ore licence for POSCO's $12 bln plant.  Full Article 

HCL Tech Results

HCL Tech Results

Quarterly profit up 32 percent, shares fall   Full Article 

Ebola Vaccine

Ebola Vaccine

GSK says Ebola vaccine development progressing at "unprecedented rate".  Full Article 

Health Check

Health Check

Credibility meets compromise in Europe's bank stress test.  Full Article 

Photo

Legal Reforms

Companies look for more fairness as China eyes legal reforms at key meeting.  Full Article 

Gold Smuggling

Gold Smuggling

With seizures up, Indian gold smuggling loses its shine  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage