The good news about the global economy has been coming on strong for some time now. The latest economic indicators from The Economist magazine confirms that the boom is alive and well. Of 57 countries, not a single one is experiencing negative GDP growth right now. There are two islands of sluggish growth in developing Europe: Hungary (1.0%) and Turkey (1.5%). But the rest of the region is booming. The euro area is chugging along at a respectable 2.7% average, with every euro-area country showing a decent rate of growth. Outside Europe, Japan, and the developed Anglosphere, the slowest rate of growth shown in 3.7%, in Mexico. Which is not slow at all. Except by comparison to the real star performers, including, as usual, China (11.5%-- fast even for China!), and India (8.9%), but also Argentina and Venezuela (8.7%) and Peru (10.4%), and a bunch new EU countries like Latvia (10.9%), Lithuania (10.8%), Slovakia (9.4%), Poland (6.4%) and the Czech Republic (6.0%). At the heart of the Middle East, Egypt (6.9%) is booming. East Asia is slow by its own standards but mostly in the respectable 5-7% range.
The rising tide continues to lift all boats.
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