Videos | January 13, 2012

Economic update January 2012

The global economy avoided a severe slowdown in 2011 despite Europe’s debt crisis, ING economists say. But “it may not last”.

ING senior economist Martin van Vliet said in the eZonomics economic update video for January 2012 that emerging economies held up relatively well and “even the United States has recently been outperforming Europe”.

Cautious first half
But van Vliet highlighted several factors – including an expected slowdown in trade that would have knock on effects to central and eastern Europe and Asia – that lead to a more cautious outlook for the first half of this year. He said forecasts suggested a gradual pick up in global economic growth from the middle of 2012 but it depended on how quickly the Eurozone delivered “convincing action” for its debt woes.

EconomicsEuropeEmerging markets

eZonomics team
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