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Global Output Stagnant

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Global Output
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The gross world product stagnated in 2009 as the Great Recession took hold but is expected to have recovered somewhat in 2010.
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The gross world product increased by just 0.3 percent in 2009 as the Great Recession took hold in many of the world's economies. World output is expected to have recovered somewhat in 2010, with growth estimated at roughly 4 percent.
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The gross world product increased by just 0.3 percent in 2009 as the Great Recession took hold in many of the world's economies.1 (See Figure 1.) The anemic increase was a sharp slowdown from the 2000–08 period, when global output increased 6.6 percent annually.2 World output is expected to have recovered somewhat in 2010, with growth estimated at roughly 4 percent.3

Gross world product measures the output of goods and services for the world economy as a whole. It is commonly broken into consumption, investment, and government spending. The data presented here are calculated based on the purchasing power parity exchange rate, which converts national output to a common currency that reflects equivalent purchasing power across countries.4

Growth differed markedly by region and economy. Advanced economies actually shrank by 2 percent in 2009, while emerging and developing economies continued to grow—albeit slowly compared with earlier years—at 3.3 percent.5 (See Table 1.) Some of the largest emerging economies grew at very high rates: China’s economy, for example, grew at 9.1 percent in 2009 and India’s at 7.4 percent.6

End Notes: 

1 Worldwatch calculation based on data in International Monetary Fund (IMF), World Economic Outlook Database, April 2010.

2 Ibid.

3 IMF, World Economic Outlook (Washington, DC: April 2010), p. 2.

4 Tim Callen, “PPP vs. the Market: Which Weight Matters,” Finance and Development, March 2007.

5 Worldwatch calculation, op. cit. note 1.

6 Central Intelligence Agency, The World Factbook (Washington, DC: 2009).

7 IMF, op. cit. note 3.

8 Ibid.

9 Ibid.

10 Ibid.

11 Ibid., p. 47.

12 Ibid.

13 Ibid., pp. 6–7.

14 Environmental Protection Agency, Municipal Solid Waste Generation, Recycling, and Disposal in the United States: Facts and Figures for 2008 (Washington, DC: 2009).

15 Sarah O. Ladislaw and Nitzan Goldberger, Assessing the Global Green Stimulus, briefing paper (Washington, DC: Center for Strategic and International Studies, February 2010).

16 World Bank, World Development Report 2010 (Washington, DC: 2010), p. 59.

17 Ladislaw and Goldberger, op. cit. note 15.

18 Ibid.

19 Tsuyoshi Kawakami, Cooperation with Asia and Pacific Islands: Toward A Sound Material Cycle Society

(Tokyo: Office of Sound Material-Cycle Society Waste Management and Recycling Department, Ministry of the Environment, July 2008).

20 Ibid.

21 "Japan: Assessment and Recommendations," OECD Environmental Performance Reviews, May 2010.

22 World Bank, "Developing a Circular Economy in China: Highlights and Recommendations," policy note prepared by prepared by the Rural Development, Natural Resources and Environment Unit, East Asia and Pacific Region (Washington, DC: 2009).

23 Ibid.

24 Philipp Schepelmann, Yanne Goossens, and Arttu Makipaa, eds., Toward Sustainable Development: Alternatives to GDP for Measuring Progress (Wuppertal, Germany: Wuppertal Institute for Climate, Environment and Energy, 2010), pp. 52–56.

25 Austrian Ministry of Agriculture, Forestry and Water Management in cooperation with Sustainable Europe Research Institute, What Kind of Growth is Sustainable? (Vienna: 2009); United Kingdom from Sustainable Development Commission, Redefining Prosperity (London: 2009); France from Report by the Commission on the Measurement of  Economic Performance and Social Progress, undated, at www.stiglitz-sen-fitoussi.fr/documents/rapport_anglais.pdf, 2009; European Union from GDP and Beyond: Measuring Progress in a Changing World (Brussels: 20 August 2009); Organisation for Economic Co-operation and Development, “Measuring the Progress of Societies,” at www.oecd.org/pages/0,3417,en_40033426_40033828_1_1_1_1_1,00.html.

26 Zhou Xin and Simon Rabinovitch, "Tired of Choking on Growth, China Launches Green GDP," Reuters, 4 November 2010.

27 Allegra Stratton, "Happiness Index to Gauge Britain's National Mood," (London) Guardian, 14 November 2010. 

 

Publish Date: 
Feb 04, 2011
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The gross world product increased by just 0.3 percent in 2009 as the Great Recession took hold in many of the world's economies.1 (See Figure 1.) The anemic increase was a

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