Saturday, April 24, 2010

Which Country is Still the Single Largest Source of Global Demand?

United States!
U.S. consumers remain the single largest source of global demand, even if their clout isn't what it once was. J.P. Morgan estimates U.S. consumer spending will account for one-fourth of the global total in 2010, down from about 35% in 2003. Still, the global recession spread to Latin America and Asia when U.S. buyers put away their credit cards.
According to Bob Davis's April 19, 2010 WSJ article, "IMF to Ponder China, Jobs and the U.S.'s Wallet," a number of forecasters are looking for 4% global growth in 2010 and 2011 -- with more than 3% growth in the U.S., somewhat slower in Japan and a double-digit advance in China.

Read more here.

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