Economic development expected to deteriorate significantly worldwide: Statista
Economic development is expected to deteriorate significantly from +32 percent currently to -5 percent worldwide according to a new study by German online statistics portal Statista.
The report, titled Global Economic Outlook (GEO) Score, states that, measured on a scale from -100 percent and +100 percent, the global score reflecting the current economic situation, Q3 2019, is still positive with +32percent.
However, when discussing the next six months, it drops to -5 percent worldwide. The highest regional current satisfaction score is in the Americas at +44 percent and the lowest is in Europe at +15 percent.
The score for the expected development within the next six months lowers globally. Overall, the most negative estimation for the future is found in Europe with -22 percent and the most positive is in Asia with +6 percent.
The country-specific findings highlight this general switch to concern about the future economic situation but vary depending on the respective nation. In the US, a score of +58 percent for the current economic situation is quite positive, but it deteriorates heavily to -11 percent when considering the economic development for the next six months.
In a similar pattern, Germany’s outlook drops from a current score of +69 percent to -35 percent. In the UK, a negative present satisfaction score of -34 percent goes from very bad to even worse with -54 percent.
Things are different in Italy where the current situation is estimated negatively at -44 percent but the outlook is +8 percent, showing an expected improvement over the next six months.
Statista has published the report in collaboration with market research platform Atheneum. The GEO survey is a unique economic sentiment indicator reflecting a holistic picture of perceived economic change. On a quarterly basis, Statista and Atheneum ask around 2,000 leading experts from 23 countries and different industries about their views on the current and future economic situation.
Respondents are businesspeople in leading positions with at least ten years of professional experience. For the methodology, the expert evaluations are converted into net scores which are then weighted by their general satisfaction and outlook score, their scores on individual aspects of the economy and ultimately weighted by each respective country’s GDP.
Starting today, the World Bank and the IMF are kicking off their annual meetings which are set to downgrade economic outlook significantly. Founder and CEO of Statista, Dr Friedrich Schwandt, said: “The World Bank and IMFs findings confirm the clouding global economic outlook illustrated by the GEO score. As a sentiment indicator, it aims to reflect those actual findings by looking at the perceived status quo and development of the global economy.”
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