Acceleration of Global Growth in 2013 Led by the Americas and Non-Euro Countries in Europe

I. GLOBAL ASSESSMENT AND OUTLOOK Acceleration of Global Growth in 2013 Led by the Americas and NonEuro Countries in Europe By Evangelos Otto Simos 38 Copyright © 2012 Journal of Business Forecasting | All Rights Reserved | Fall 2012 The baseline forecast incorporates major findings of the World Economic Survey conducted by the German Ifo Institute and the Paris-based International Chamber of Commerce, which was conducted in the third quarter of 2012. About 1,100 executives from 123 countries have indicated that the world’s economic climate fell in the third quarter of 2012 driven by unfavorable assessments about the current economic situation. The major findings of the third quarter’s survey are as follows: • Worldwide, executives evaluated the current economic situation, third quarter of 2012, to be below satisfactory levels, led by low levels on capital expenditures. They found economic activity in their countries to be slightly better than in the third quarter of 2011. Most important, regarding the future, executives expect economic conditions in the first quarter of 2013 to be above those prevailing in the third quarter of 2012. • On a regional basis, North American ...