NEW YORK, Feb. 10, 2016 /PRNewswire/ -- Global Economic Outlook 2016 : Recovery in Advanced Economies and Slowdown in Key Emerging Economies Likely
The global economy is finally stabilizing after the Great Recession, although some weak spots and new risks remain in the growth trajectory. In 2016, the growth of very promising economies such as the United States and the United Kingdom is expected, while economies such as Japan and China are likely to slow down. Furthermore, a slowdown is underway for some key emerging markets like Brazil and Russia. This Frost & Sullivan study explores the 2015 trends that have a bearing on 2016 global economy, while highlighting the top predictions for 2016.
Global oil demand is expected to increase to Million barrels per day (bpd) in 2016, driven by growth in Europe and Asia. Production from the United States is expected to fall barrels to Million bpd in 2016.
But the oil glut will persist at least until 2016, given OPEC's oil pumping and with sanctions having been lifted on Iran. Oil prices may increase moderately to $ per barrel in 2016 and they are likely to remain extremely volatile.
Fed Policy Decisions Anticipated hikes in the US interest rates to 1%-1.5% by the end of 2016 may not counter the country's growth. However, the hikes may reduce capital flow into the emerging economies. Commodity Prices
After a slump in prices in the last four years, commodity prices may slightly rise in 2016. The plunge in oil prices since 2014, dollar appreciation, and China's efforts to transition to a service-driven economy from manufacturing have adversely hit major non-energy commodity prices. Due to an expected pickup in oil price movement, commodity prices may slightly rise in 2016.
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