Expectations for global economic growth have grown less optimistic this year in light of the U.S. economic downturn. Slowing consumer spending and business investment in the United States have had a negative impact on the economic fortunes of its major trading partners, including Canada, Mexico, Japan and nations in Western Europe and in the Asia/Pacific region. Economists at the International Monetary Fund (IMF) recently indicated that they expected to see worldwide growth in inflation-adjusted gross domestic product slow from 4.8 percent in 2000 to 3.2 percent during 2001.
International economic trends
(Annual percent change in gross domestic product)
Source: International Monetary Fund and BD&C