from the Federal Reserve Bank of Atlanta, EconSouth Fourth Quarter 2013
Many economists believed economic growth would pick up in 2013 after several challenging years. As the year went on, the developed countries made some improvements, but in developing economies, which powered the global economy out of recession, growth flagged. Although global economic growth decelerated for the third consecutive year, the outlook for the world economy in 2014 is cautiously optimistic.
Toward the end of 2013, the world economy again failed to meet the optimistic expectations that prevailed in the beginning of the year. Just as in 2012, forecasters revised down their outlook as the year progressed. Data through the third quarter of 2013 indicate that instead of the hoped-for acceleration, global economic growth is likely to have been slower than in 2012.
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