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The world economy grew 2.6% in the year to the second quarter, a slower pace than in the previous three quarters. Of the 54 countries tracked by The Economist to calculate our measure of world GDP (which collectively account for 90% of global output), half saw their growth rates fall; in seven output fell. Economic growth has been particularly disappointing in emerging markets. Brazil has slipped into recession and the economy of sanction-hit Russia has stalled. Some advanced economies have also fared badly. In Japan a new sales tax has squashed consumption. In the euro area GDP rose only 0.7% in the year to the second quarter. China accounted for 45% of world growth, more than any other country.
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The Economist Newspaper
via Economic Crisis http://ift.tt/1wj8jsw