International economic outlook quarterly September 2013: advanced economies advance
- Document type
- Corporate author(s)
- Confederation of British Industry
- Date of publication
- 1 September 2013
- International Economic Outlook Quarterly. September 2013
- Trends: economic, social and technology trends affecting business
- Business and management
- Material type
The CBI's International Economic Outlook is published on a quarterly basis, giving up-to-the-minute, authoritative commentary and analysis of the international economy.
This issue reports that growth momentum in advanced economies remains encouraging. In the US, strengthening private sector demand continues to offset retrenchment in the public sector, and Japan’s economy has received considerable support from large-scale fiscal and monetary stimulus. Furthermore, the Eurozone exited recession in the second quarter. However, performance was unbalanced across member countries, and headwinds from poor credit conditions and disinflationary pressures in periphery states will limit the pace of expansion going forward.
In the UK, recent indicators suggest that the recovery is continuing to gather pace into the second half of 2013. As a result, the CBI have revised up its GDP growth forecasts for 2013 and 2014 (to 1.2% and 2.3%), reflecting improvements in business and consumer confidence and better credit conditions. However, the building recovery in advanced economies has been offset by a disappointing performance among major emerging markets. Many have seen sharp falls in their currencies which, in some instances, has forced a tightening in monetary policy (notably in India). Alongside lingering structural issues, this could further constrain the pace of growth going forward.
Related to Trends: economic, social and technology trends affecting business
Downloadable briefing note looking at the relationship between productivity and pay growth
Downloadable paper on ensuring a fair future of work for women
Downloadable paper on how economic insecurity is experienced by workers
Related to CBI
Downloadable report giving practical steps to reduce the worst effects of a no deal Brexit
Downloadable report highlighting the actions business and government can take to close the digital skills gap
Getting young people 'work ready': our vision for how education should prepare young people for the modern world
Downloadable report on how education should get young people work ready
Downloadable report looking to improve productivity through better people practices