World Bank2014-12-052014-12-052014-11https://hdl.handle.net/10986/20661The global economic recovery remains uneven, as growth in the United States is gaining momentum but appears to be at risk of stalling in the Euro Area and Japan. U.S. growth is expected to gain pace over the rest of the year and into 2015 as employment prospects boost real income growth and confidence. Following the Euro Area s exit from recession in 2013, GDP was flat in 2014, and preliminary data for the third quarter suggest slowing growth momentum amid weak domestic demand, ongoing balance sheet adjustments, a fragmented banking sector, and rising geopolitical risks. In Japan, a sales tax hike in April caused a more significant contraction in activity than expected, while exports failed to pick up.en-USCC BY 3.0 IGOACCOUNTINGADVANCED COUNTRIESAGGREGATE DEMANDAGRICULTURAL COMMODITIESAGRICULTUREAPARTHEIDBALANCE SHEETBANK BONDBANK LENDINGBANKING SECTORBANKSBASIS POINTSBENCHMARKBENCHMARK STOCKBENEFICIARIESBENEFICIARYBOND ISSUANCEBONDSBORROWING COSTSBROKERSBUDGET DEFICITBUSINESS ENVIRONMENTBUSINESS ENVIRONMENTSCAPACITY CONSTRAINTSCAPITAL FLOWSCAPITAL FORMATIONCAPITAL INFLOWSCAPITAL OUTLAYSCASH TRANSFERCASH TRANSFERSCENTRAL BANKCOMMODITYCOMMODITY EXPORTSCOMMUNICATIONS DEVELOPMENTCONFIDENCE INDEXCONSUMER SPENDINGCONSUMPTION EXPENDITURECONSUMPTION TAXESCONTINGENT LIABILITIESCORPORATE PROFITSCREDIT GROWTHCURRENT ACCOUNT BALANCECURRENT ACCOUNT DEFICITDEBT BURDENDEBT SERVICINGDEBT SERVICING COSTSDEFLATIONDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING ECONOMIESDISCOURAGED WORKERSDISPOSABLE INCOMEDIVIDENDDIVIDEND PAYMENTSDIVIDENDSDOLLAR PRICESDOMESTIC ECONOMYDOMESTIC INFLATIONDURABLEDURABLE GOODSECONOMIC DEVELOPMENTSECONOMIC GROWTHECONOMIC OUTLOOKECONOMIC PERFORMANCEEMERGING MARKETEMERGING MARKET COUNTRIESEMERGING MARKET ECONOMIESEMERGING MARKET STOCKEMERGING MARKETSEQUIPMENTEQUITIESEQUITY MARKETSEUROPEAN CENTRAL BANKEXCHANGE RATEEXPENDITURESEXPORT GROWTHEXPORT MARKETSEXPORT PERFORMANCEEXPORTERSEXPORTSEXPOSUREEXTERNAL DEFICITSEXTREME POVERTYFAVORABLE FINANCINGFEDERAL RESERVEFEDERAL RESERVE BANKFINANCIAL CRISISFINANCIAL MARKETFINANCIAL MARKETSFISCAL CONSOLIDATIONFISCAL DEFICITFISCAL POLICIESFISCAL POLICYFIXED CAPITALFOOD PRICEFOOD PRICESFORECASTSFOREIGN CURRENCYFOREIGN DIRECT INVESTMENTFUEL TAXESGDPGINI COEFFICIENTGLOBAL ECONOMIC PROSPECTSGLOBAL FINANCIAL MARKETGLOBAL TRADEGOVERNMENT ASSETSGOVERNMENT BONDGOVERNMENT BOND YIELDSGOVERNMENT EXPENDITUREGOVERNMENT GUARANTEESGOVERNMENT REVENUEGOVERNMENT REVENUESGOVERNMENT SPENDINGGROSS DEBTGROSS DOMESTIC PRODUCTGROSS FIXED CAPITAL FORMATIONGROWTH RATEGROWTH RATESHEALTH SERVICESHOUSEHOLD INCOMEHOUSINGINCOME DISTRIBUTIONINCOME GROUPINCOME GROWTHINCOME INEQUALITYINCOME TAXINCOME TAXESINCOMESINDEBTEDNESSINFLATIONINFLATION EXPECTATIONSINFLATION TARGETINFRASTRUCTURE INVESTMENTINFRASTRUCTURE INVESTMENTSINSURANCEINTEREST PAYMENTSINTEREST RATESINTERNATIONAL BANKINTERNATIONAL RESERVESINTERNATIONAL TRADEINVENTORIESINVESTMENT DECISIONSINVESTMENT SPENDINGINVESTOR CONFIDENCEJOB CREATIONLABOR MARKETLABOR MARKETSLEVYLONG-TERM BOND MARKETSLONG-TERM INVESTMENTLORENZ CURVEMACROECONOMICSMARKET CONDITIONSMARKET PRICESMARKET VOLATILITYMETALSMIDDLE-INCOME COUNTRIESMIDDLE-INCOME COUNTRYMONETARY FUNDMONETARY POLICYMUNICIPALITIESNATIONAL DEVELOPMENTNATIONAL INCOMENATIONAL TREASURYNET DEBTNET EXPORTSNEW ENTRANTSOIL PRICESOLD-AGE PENSIONSOUTPUTOUTPUT GAPPAYROLL TAXESPENSIONPER CAPITA INCOMEPERSONAL INCOMEPERSONAL INCOME TAXESPORTFOLIOPORTFOLIO FLOWSPOWER PARITYPRODUCTIVITYPROPERTY TAXESPUBLIC DEBTPUBLIC FINANCESPUBLIC POLICYPUBLIC SERVICESPUBLIC SPENDINGPURCHASING POWERREAL ESTATEREAL GDPREAL INCOMEREAL INTERESTREAL INTEREST RATESREDISTRIBUTIVE EFFECTSRESERVERESERVE BANKRESERVESRESOURCE ALLOCATIONRETURNRETURNSRISK AVERSERISKY ASSETSSAFETY NETSAVINGSSKILLS SHORTAGESSOCIAL SAFETY NETSOCIAL SERVICESSTOCK EXCHANGESTOCK INDEXESSTOCK MARKETSSWAPSTAXTAX ADMINISTRATIONTAX COLLECTIONSTAX INCENTIVETAX POLICYTAX RATETAX SYSTEMTAXATIONTHE SOUTH AFRICAN RESERVE BANKTRADE BALANCETRADE DEFICITTRADE TAXESTRANSPORTUNEMPLOYMENTUNEMPLOYMENT RATEVALUE ADDEDWAGE GROWTHWAGESWATER SUPPLYWITHDRAWAL10.1596/20661