Professor Mark J. Perry's Blog for Economics and Finance
The chart above uses international macroeconomic data on real GDP growth from the USDA's Economic Research Service. Over the last four years, the world economy has grown at an annual average rate of 3.6%, the fastest growth in real world output over a four-year period in almost twenty years (see shaded areas above). If there is any kind of slowdown in global economic growth, it sure hasn't shown up yet in real GDP data. 
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
3 Comments:
To be fair, the drop in GDP growth in 2001, was sudden and abrupt and previous years were not predictive at all of what would happen in 2001.
Despite fears of globalization, the "giant sucking sound", and outsourcing, it would appear that trade, mass communication and increasing economic integration in the world economy offer unprecedented economic opportunities.
There are, of course, many dangers such as financial contagion, pressures on the environment, and the threat of a global pandemic. It does remain, however, one of the most interesting periods to be alive since the 18th century.
The last 4 year trend in GDP growth bears a remarkable resemblance to 1976-1979 just prior to the crash in 1980.
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