Foodservice Equipment Reports

Economic Growth Should Accelerate In Most Economies In 2014

The pace of economic growth should pick up in most of the world’s economies next year, according to the latest consensus forecasts from 50 major U.S.-based economic forecasting groups polled by Blue Chip Economic Indicators. Growth of real gross domestic product is expected to speed up as much as a full point or more in many developed and developing countries.

Among the markets forecast to experience the most improvement in 2015 are Mexico, where real GDP is predicted to jump two full points to 3.5%; the Netherlands, forecast at 0.5% growth, after a real GDP decline of 1.1% in 2013; and Taiwan, where GDP growth is expected to rise to 3.4% from this year’s 2.2%. Other economies forecast to show at least a 1% improvement include Germany and Russia. The Eurozone as a whole is forecast to break out of recession with 1% GDP growth, up from a 0.4% decline in 2013.

The U.S. economy is forecast to grow real GDP 2.5% next year, improving from the current Blue Chip consensus forecast of 1.7% for 2013. GDP growth in Japan, which has the second largest foodservice market, is predicted to show flat growth of 1.8% in ’14. GDP in China is expected to post a 7.5% growth rate, similar to this year’s 7.6% forecast. GDP is forecast to pick up in India to 5.3% next year, up from 4.5% in ’13.

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