Area Development
A new report by The Conference Board predicts that world growth will slow to about 3 percent per year (on average) until at least the middle of the next decade. "Global Economic Outlook 2012" provides projections for output growth of the world economy for 2012, 2013 to 2016 and 2017 to 2025, plus info about 12 major regions as well as about 50 advanced and emerging economies. Other key findings from the report include:


"The greatest challenge for the global economy in this slow growth environment is to raise productivity without losing job opportunities for the millions who are looking for reasonably paid jobs to support their living standards," said Bart van Ark, chief economist of The Conference Board. "The growth rate of per capita income globally has been around 2.4 percent since the beginning of the century, but sometime between 2017 and 2025, this rate will fall below 2 percent. In contrast to the past half century, that slowdown will also be accompanied by slower growth in population."