Sluggish Global Economic Recovery Ahead
WASHINGTON (AP) — An Associated Press survey of more than two dozen economists finds that they believe a fully healthy global economy isn't in the cards for now.
The economists say persistently weak growth will make it harder to resolve many major challenges. They include historically high unemployment in Europe, sluggish spending by consumers and businesses in the United States, heavy government debts in Europe and Japan and unstable economies in some emerging nations.
The economists think the 17 nations that use the euro will grow at an annual rate barely above 1 percent in the second half of 2013 and in 2014.
They predict the U.S. economy will grow at a 2.3 percent annual rate in the second half of 2013 and 2.6 percent in 2014. Japan is expected to grow 2.2 percent next year.
Healthy growth in advanced economies is 3 percent or better.