The Worst Of Global Austerity Is Coming To End

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		Home Tech Finance Markets Politics Strategy Entertainment Advertising Retail Sports Life Thursday, October 10, 2013 The Worst Of Global Austerity Is Coming To End World governments have come under immense pressure to reduce debts and deficits in the post-Financial Crisis era. This resulted in fiscal austerity programs that have inhibited economic growth. However, the worst may be over. "This is best illustrated by measures of the underlying, or cyclically-adjusted, budget deficit," said Capital Economics' Andrew Kenningham pointing to new IMF data. "On this basis, this year’s fiscal squeeze of around 1.4% of GDP for advanced economies will give way to a tightening of around 0.8% of GDP next year. This is one reason why we are forecasting a gradual acceleration of global growth next year." "The relief is likely to be greatest for the US," noted Kenningham. "Once the shutdown is over, the fiscal year 2014 should see much smaller cuts than in 2013, when the deficit was cut by over 3% of GDP." Read » Also On Markets Today: STOCKS GO WILD AS DEBT CEILING DEAL NEARS: Here's What You Need To Know Three Charts That Make Us Scared For Canada's Future Advertisement CHART OF THE DAY: THE ECONOMY IS NOW AT DEFCON 3 CHART OF THE DAY: The 'Halloween Bills' Are Getting Axe-Murdered CHART OF THE DAY: This Chart Destroys The Debt Ceiling Truthers Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Markets RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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