International Economic Update – Global Outlook Is Weakening

A slowdown in economic activity has materialized at the global level. In October, both advanced and emerging economies faced downward revisions in real gross domestic product (GDP) growth prospects for 2011. Investor uncertainty has heightened, causing increased market volatility. Recent economic activity suggests a more optimistic outlook for the U.S. relative to other advanced economies. The U.S. is benefiting from high labor productivity, which creates positive implications for capital inflows and international trade.

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Source: Globalization and Monetary Policy Institute