MISS WELBY

Western economies poised to account for less than 50pc of world GDP

In AMERICA, ECONOMY, EUROPE on 02/06/2009 at 5:47 PM

The Centre for Economics and Business Research (CEBR) is forecasting that because of the downturn and China’s economic resilience, the combined contribution from the US, Canada and Europe to world GDP will be 49.4pc in 2009, down from 52pc in 2008. CEBR said prior to the financial crisis Western world GDP was not expected to fall below 50pc until 2015. The West’s contribution to global GDP has been steadily falling since 2004, when it was about 60pc, but the recession has accelerated that process, CEBR said… Daily Telegraph

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