Thursday (Un)Humor: The IMF's European Growth Expectations
With all the excitement over France and Germany's emergence from recession based on this morning's advance first-guess GDP data - a recovery-less recovery the likes of which the US has been languishing in for years - we thought it worth a reminder of the hopeful hockey-stick growth embedded in the IMF's forecast for the European Union. Assuming that Europe is still clinging together in 2016, we present the IMF's dreams of the future.. and most intriguingly the OECD's forecast that Germany will grow at a mere 1.1% for the next 50%.
Perhaps most intriguingly:
Germany will grow at an annual rate of 1.1 percent between 2011 and 2060, according to the OECD. That is the weakest pace, tied with Luxembourg, among 42 OECD countries. The IMF projects Germany will be the slowest-growing economy in the euro area by 2016, expanding at an annual rate of 1.3 percent in 2016 compared with 3.7 percent for Greece. The OECD says Germany has brought in fewer pro-growth reforms than any other member country since 2007.
Source: Bloomberg Briefs