According to professional forecasters around the world, the global economic landscape is healthy going into 2018—so much so that only three countries and one territory are expected to experience a downturn in their gross domestic product over the coming 12 months. The map and chart show which countries are growing fastest (light, dark and darker blue), and which are lagging the rest of the world (light green and red). The laggards include Venezuela (projected to lose 11.9% of production in the next 12 months); the hurricane-ravaged territory of Puerto Rico (-8.0%); Equatorial Guinea (-3.7%); and North Korea (-1.0%).
At the other end of the scale, Dominica (+8.8%), India (+7.7%), Bhutan (+7.6%), Anguilla (+7.4%) and Ethiopia (+7.2%) are expected to experience the fastest growth.
By the largely blue and green color of the global map, you can see what a healthy economic world looks like—a nice contrast to the chain of collapse that we experienced in the Great Recession after years of Wall Street speculation came home to roost. If you’re rooting for the U.S. to win this race, however, you could be disappointed; the projections for American economic growth come in well behind the global average of 2.7%.
About the Author: Bob Veres has been a commentator, author and consultant in the financial services industry for more than 20 years. Over his 20-year career in the financial services world, Mr. Veres has worked as editor of Financial Planning magazine; as a contributing editor to the Journal of Financial Planning; as a columnist and editor-at-large of Dow Jones Investment Advisor magazine; and as editor of Morningstar’s advisor web site: MorningstarAdvisor.com.
Mr. Veres has been named one of the most influential people in the financial planning profession by Investment Advisor magazine and Financial Planning magazine, was granted the NAPFA Special Achievement Award by the National Association of Personal Financial Advisors, and most recently the Heart of Financial Planning Distinguished Service Award from the Denver-based Financial Planning Association.