NC State Ag Economist Dr. Mike Walden – “Update on the Global Economy”


Mary: This is Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at update on the global economy.  Mike, although we pay most attention to the domestic economy, the economy of other countries is also important to us.  This is because over one-fifth of the US economy is linked to the international economy via exports or imports.  So how is the world economy now looking?

Mike:  Summary Answer

  1. The global economy is looking up
  2. Growing at a 3.5% rate – actually higher than the US
  3. Higher growth driven by 6% growth in China
  4. But Europe – which has been struggling since the end of the Great Recession – appears to be on a path of sustained growth, growing slightly under 2%
  5. All of this is good for a continued US recovery
  6. And as a further sign of confidence, foreign central banks are beginning to pull back their support of the economy – just like our federal reserve
  7. I’m MW

Mary:  And I’m Mary Walden for the N C State Extension