Dun & Bradstreet Corp. (DNB) published its five-year forecast of the global economy, predicting continued but sluggish growth against challenging headwinds, differing from region to region.
The company said that after the 2012 slowdown, it expects global economic growth to pick up gradually through 2017, but below trend until the middle to latter stages of the decade. However, the company expects it to be lower than in the five years prior to 2008 as several concerns still weigh heavily on these forecasts.
The company noted that the U.S. economy continues to move slowly toward recovery. But, the company said that the outlook for the European region remains unsettled with substantial downside risk given policy uncertainty.
According to the company, the immediate crisis in the Eurozone has subsided, but the underlying challenges in the region remain substantial. While attention remains focused on fiscal and monetary policy D&B remains concerned about the competitiveness of European economies and the ability of their business sector to offset fiscal restraint.
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