The document discusses the economic outlook for South Florida and the implications for local businesses from 2011-2012. It notes that while the US and global economies are expected to see moderate growth, the recovery will be slow and below potential levels. The document identifies several industries and business opportunities in South Florida that may see growth during this "new normal" period of slower economic activity, such as exports, trade financing, and professional services.
The WESP mid-2011 update highlights that the recovery of the global economy remains intact but uneven, with strong output growth in developing countries and a weaker economic performance in developed countries. At the same time, new headwinds have emerged, such as upward pressure on inflation rates due to higher energy and food prices and continued appreciation pressure on emerging market currencies.
The document summarizes the IMF's projections for global economic growth in 2013 and 2014 from its January 2013 World Economic Outlook update. It finds that:
1) Global growth is projected to gradually increase in 2013 as factors slowing growth in recent years ease, but the recovery will be more gradual than previously expected.
2) While policy actions have reduced crisis risks in Europe and the US, growth remains weak in Europe and may be weaker than projected, with downside risks remaining significant.
3) Growth is forecast to increase modestly in the US and pick up in emerging markets, but contract further in Japan and remain weak in Europe overall.
The full report presents a post-crisis world economy still struggling with continued weakening growth of 2.2 per cent in 2012. It projects disappointing global growth of 2.4 per cent in 2013 and 3.2 per cent in 2014 in the face of major uncertainties and downside risks and it also foresees a much slower pace of poverty reduction in many developing countries and narrowing fiscal space for investments in the many critical areas needed for achieving the Millennium Development Goals. The report calls for more forceful and concerted policy action at the global level, identifying fiscal and employment policies, financial market stability, development assistance and green growth as key challenges.
For more information: http://bit.ly/WESP
Global growth prospects have dimmed and risks have escalated. The euro area crisis has entered a new perilous phase, with the euro area economy expected to enter recession in 2012. Growth is also slowing in emerging markets due to weaker external demand. Immediate policy priorities are restoring confidence in the euro area, sustaining growth while implementing fiscal adjustments, and providing liquidity. Other advanced economies must address fiscal imbalances and repair financial systems while sustaining recoveries. Emerging markets need to respond to moderating domestic growth and slowing external demand from advanced economies. Global growth is projected to slow to 3.3% in 2012, a downward revision of 0.7 percentage points from previous forecasts.
After a solid and broad-based growth for three consecutive years, the world economy is expected to decelerate in 2007, with the growth of world gross product (WGP) moderating to a pace of 3.2 per cent, down from the estimated 3.8 per cent for 2006. The economy of the United States of America will be the major drag for this global slowdown, as its growth is forecast to soften on the back of a weakening housing market to a rate of 2.2 per cent in 2007. No other developed economy is expected to emerge as an alternative engine for the world economy, as growth in Europe is forecast to slow to around 2 per cent and in Japan to below 2 per cent in 2007. There are, furthermore, substantial downside risks associated with the possibility of a much stronger slowdown of the United States economy.
The World Bank's Global Economic Prospects report projects weaker global economic growth in 2012 and 2013 due to significant downside risks and uncertainties from the ongoing financial crisis in Europe. Global GDP growth is expected to slow to 2.5% in 2012 and 3.1% in 2013, down from previous forecasts. High-income country growth will be particularly weak, especially in the Eurozone, while developing country growth is also projected to decline. Ongoing financial market tensions could trigger broader financial crises with further negative impacts on the global economy. Significant policy measures have been taken in Europe to address immediate issues, but long-term solutions are still needed to resolve the region's fiscal challenges and restore stability and confidence.
The Greek parliament passed additional austerity measures but Greece's debt remains unsustainable. The Troika acknowledged Greek debt is unsustainable and options like extending maturities or lowering interest rates could help. However, Greece will likely need more funds and its debt will exceed the 2020 target of 120% GDP. Further austerity has been associated with a 15% GDP decline making debt relief necessary to keep Greece in the eurozone.
The Size of the Fiscal Expansion: An Analysis for the Largest CountriesPeter Ho
The document analyzes the size of fiscal stimulus packages implemented by major countries in response to the 2008 financial crisis. It finds that the size of packages varied significantly, ranging from 4.8% of GDP for the US to 0.5% for India. This variation is explained by differences in the need for stimulus due to factors like automatic stabilizers and output gaps, as well as differences in available fiscal space constrained by public debt levels and financial sector support needs. While stimulus efforts will provide important support to growth, the outlook remains weak and downside risks remain, so some argue additional fiscal action may be needed if properly designed to not permanently increase deficits.
The WESP mid-2011 update highlights that the recovery of the global economy remains intact but uneven, with strong output growth in developing countries and a weaker economic performance in developed countries. At the same time, new headwinds have emerged, such as upward pressure on inflation rates due to higher energy and food prices and continued appreciation pressure on emerging market currencies.
The document summarizes the IMF's projections for global economic growth in 2013 and 2014 from its January 2013 World Economic Outlook update. It finds that:
1) Global growth is projected to gradually increase in 2013 as factors slowing growth in recent years ease, but the recovery will be more gradual than previously expected.
2) While policy actions have reduced crisis risks in Europe and the US, growth remains weak in Europe and may be weaker than projected, with downside risks remaining significant.
3) Growth is forecast to increase modestly in the US and pick up in emerging markets, but contract further in Japan and remain weak in Europe overall.
The full report presents a post-crisis world economy still struggling with continued weakening growth of 2.2 per cent in 2012. It projects disappointing global growth of 2.4 per cent in 2013 and 3.2 per cent in 2014 in the face of major uncertainties and downside risks and it also foresees a much slower pace of poverty reduction in many developing countries and narrowing fiscal space for investments in the many critical areas needed for achieving the Millennium Development Goals. The report calls for more forceful and concerted policy action at the global level, identifying fiscal and employment policies, financial market stability, development assistance and green growth as key challenges.
For more information: http://bit.ly/WESP
Global growth prospects have dimmed and risks have escalated. The euro area crisis has entered a new perilous phase, with the euro area economy expected to enter recession in 2012. Growth is also slowing in emerging markets due to weaker external demand. Immediate policy priorities are restoring confidence in the euro area, sustaining growth while implementing fiscal adjustments, and providing liquidity. Other advanced economies must address fiscal imbalances and repair financial systems while sustaining recoveries. Emerging markets need to respond to moderating domestic growth and slowing external demand from advanced economies. Global growth is projected to slow to 3.3% in 2012, a downward revision of 0.7 percentage points from previous forecasts.
After a solid and broad-based growth for three consecutive years, the world economy is expected to decelerate in 2007, with the growth of world gross product (WGP) moderating to a pace of 3.2 per cent, down from the estimated 3.8 per cent for 2006. The economy of the United States of America will be the major drag for this global slowdown, as its growth is forecast to soften on the back of a weakening housing market to a rate of 2.2 per cent in 2007. No other developed economy is expected to emerge as an alternative engine for the world economy, as growth in Europe is forecast to slow to around 2 per cent and in Japan to below 2 per cent in 2007. There are, furthermore, substantial downside risks associated with the possibility of a much stronger slowdown of the United States economy.
The World Bank's Global Economic Prospects report projects weaker global economic growth in 2012 and 2013 due to significant downside risks and uncertainties from the ongoing financial crisis in Europe. Global GDP growth is expected to slow to 2.5% in 2012 and 3.1% in 2013, down from previous forecasts. High-income country growth will be particularly weak, especially in the Eurozone, while developing country growth is also projected to decline. Ongoing financial market tensions could trigger broader financial crises with further negative impacts on the global economy. Significant policy measures have been taken in Europe to address immediate issues, but long-term solutions are still needed to resolve the region's fiscal challenges and restore stability and confidence.
The Greek parliament passed additional austerity measures but Greece's debt remains unsustainable. The Troika acknowledged Greek debt is unsustainable and options like extending maturities or lowering interest rates could help. However, Greece will likely need more funds and its debt will exceed the 2020 target of 120% GDP. Further austerity has been associated with a 15% GDP decline making debt relief necessary to keep Greece in the eurozone.
The Size of the Fiscal Expansion: An Analysis for the Largest CountriesPeter Ho
The document analyzes the size of fiscal stimulus packages implemented by major countries in response to the 2008 financial crisis. It finds that the size of packages varied significantly, ranging from 4.8% of GDP for the US to 0.5% for India. This variation is explained by differences in the need for stimulus due to factors like automatic stabilizers and output gaps, as well as differences in available fiscal space constrained by public debt levels and financial sector support needs. While stimulus efforts will provide important support to growth, the outlook remains weak and downside risks remain, so some argue additional fiscal action may be needed if properly designed to not permanently increase deficits.
- Grim prospects for world economy
- Premature fiscal austerity in developed countries is hampering recovery
- Developing countries remain vulnerable to downturns in the developed economies
QNB’s expects global outlook to be gloomier than the OECDQNB Group
QNB expects a gloomier global economic outlook than the OECD forecasts. The OECD forecasts modest global growth of 3.4% in 2012, led by the US at 2.4%, but QNB sees downside risks from a potential Greek exit from the Eurozone and weak recent economic data. A Greek exit could increase fears about other troubled Eurozone countries like Spain. Additionally, recent data shows weakness in the US, China, India and other global economies. QNB believes the Eurozone crisis and its impact on the world economy will continue intensifying unless governments take significant policy actions to stimulate growth and stabilize the situation.
1) Investor confidence declined in Q2 2012 due to concerns over slowing economic growth and Europe's debt crisis.
2) Global stock markets fell significantly, with the S&P 500 declining 3.3% and commodity prices dropping sharply.
3) The Canadian market underperformed due to its reliance on commodities, with the energy and materials sectors declining over 8% and 11% respectively.
1) Investor confidence declined in Q2 2012 due to concerns around slowing economic growth and sovereign debt issues in Europe. Global stock markets fell sharply, while bonds yields hit record lows as investors sought safe havens.
2) The Canadian market underperformed due to its reliance on commodities, which declined with global growth concerns. Energy and materials stocks dropped significantly.
3) While markets remain volatile, company fundamentals remain solid with low debt, high cash levels, and continuing dividend growth. Overall the document recommends maintaining a balanced portfolio for the long term.
1) The document provides an outlook and asset allocation for 2013, noting that global GDP growth is expected to be similar to 2012 while central banks continue quantitative easing.
2) Quantitative easing is expected to be positive for equities, real estate, and commodities while keeping government bond yields low.
3) In the US, growth is forecast at around 2% as the private sector offsets government contraction, while the Fed continues bond purchases.
4) The Eurozone is expected to see modest recovery in 2013 led by Germany and France, while southern Europe continues to contract amid austerity and high financing costs.
- The document summarizes major market developments in June 2011, including disappointing US economic data and European sovereign debt issues that dampened investor confidence and sparked an equity market pullback.
- Key factors that contributed to the market downturn included weak economic data from the US and Europe, as well as ongoing concerns about European sovereign debt and the Greek debt crisis.
- The resource-heavy Canadian market, as measured by the S&P/TSX Composite, underperformed other markets in June due to its exposure to declining commodity prices. Energy and materials sectors saw some of the largest declines.
- Global equity markets were modestly negative in April as concerns about slowing global growth dampened investor confidence, outweighing strong US corporate earnings. The Canadian bond market performed better than equities.
- Within the Canadian market, the healthcare and consumer staples sectors outperformed while materials underperformed due to concerns about rising costs for gold and mining companies.
- Uncertainty about the economic outlook and political situation in Europe continued to weigh on markets and increased volatility.
The document provides an analysis of Asian economic trends and outlook. It finds that while growth in Asia will slow due to global factors like a declining US economy, domestic demand drivers in Asia like consumption, investment, and intra-Asian trade will help cushion the impact and allow growth to continue, albeit at a slower pace. Inflation remains a risk but proactive central bank actions can help prevent stagflation. Overall the analysis concludes Asia will experience a slowdown rather than a collapse.
Volkan emre financial system development in ld csVolkan Emre
The document analyzes potential ways the IMF could have influenced Turkey to prevent the 2001 currency crisis. It finds weaknesses in the IMF program's preparation, timing, and implementation. Specifically:
1) The program was designed too quickly in under 5 months, without enough consideration of structural issues like state banks' bad debts.
2) Inflation targets and exchange rate pegs were based on unrealistic estimates and neglected price stickiness issues.
3) Regulatory weaknesses in Turkey's banking system, like maturity mismatches, were not adequately addressed before the crisis.
Addressing these issues through more preparation time, realistic estimates, and earlier regulatory reforms could have strengthened the program and potentially prevented the currency crisis.
Global equity markets ended 2010 strongly, boosted by improving investor confidence and positive global growth outlook. In the US, quantitative easing and tax cuts helped improve the economic outlook and sentiment, giving a lift to global markets. European markets struggled with sovereign debt worries, particularly regarding Greece and Ireland. Bond markets were strong initially but weakened later in the year. Commodity prices like gold, oil, and metals increased significantly in 2010. The Canadian dollar rose close to 6% against the US dollar due to global growth and commodity prices. Going forward, volatility is expected to remain as investors take a diversified approach in a gradually improving global economic environment.
February saw global stock markets rise despite geopolitical concerns from the Middle East. Commodity prices increased, helping the Canadian market, especially the energy and materials sectors. Bond markets were less impacted and generated income returns. While higher oil prices may fuel inflation concerns, central banks face balancing economic growth and inflation.
This document provides a summary of major market developments in May and year-to-date. It discusses macroeconomic concerns that drove declines in global stock markets and commodity prices in May. The S&P 500, MSCI EAFE, emerging markets and Canadian indexes all declined significantly in May. Bond yields fell to very low levels. The document also includes perspectives from GLC portfolio managers who argue that despite short-term volatility, there remains a compelling long-term case for investing in equities at this time.
This document summarizes an academic research paper on determining future key items for trade agreements (FTAs) between Indonesia and partner countries. The research assesses Indonesia's priority economic sectors and foreign direct investment (FDI) impacts to identify opportunities. It reviews Indonesia's economic statistics and sectoral contributions to GDP. Interviews and previous FTA assessments inform the analysis to provide recommendations on negotiation items that support Indonesia's economic development goals through trade agreements.
The document summarizes market developments in July 2012. Key points include:
1) Global markets gained in July due to expectations that central banks will stimulate the economy. The energy sector led Canadian market gains while defensive sectors outperformed cyclicals.
2) Second quarter US and Canadian GDP growth was weak. US home construction rose to its highest level since 2008 but a sluggish economy could hamper further gains.
3) Volatility continued as the eurozone debt crisis weighed on markets. Sentiment received a boost from ECB commitments but the crisis' resolution remains uncertain.
Le monde en 2050 : les perspectives de PwC (2013)PwC France
http://pwc.to/V9rjZn
Selon le dernier rapport World in 2050 publié par PwC, la crise financière a accéléré le déplacement du centre de gravité de l’économie mondiale. La Chine, les États-Unis et l’Inde devraient conforter leur suprématie d’ici à 2050, mais les pays émergents n’en restent pas moins confrontés à d’immenses défis pour inscrire dans la durée leur forte croissance récente. Selon PwC, d’ici 2050, l’Indonésie, le Nigeria et le Vietnam pourraient connaître une progression spectaculaire ; le Brésil pourrait supplanter le Japon à la 4e place, et la Turquie pourrait s’imposer comme l’une des premières économies d’Europe.
This document summarizes the global economic outlook from Swedbank. It notes that global GDP growth forecasts for 2012 and 2013 have been revised downward to 3.0% and 3.1% respectively, due to slowing growth in developed economies and emerging markets. While some countries saw upward revisions to 2012 growth due to strong early year results, growth is expected to weaken further in 2013, especially in the eurozone and US. Potential global growth is now estimated around 3.8%, lower than previous estimates, due to issues like high debt levels, weak financial systems, and insufficient reforms. Downside risks to the outlook are seen as more probable than upside risks.
Climate change and shorter ice seasons are threatening Arctic environments by impacting polar ice which affects wildlife rest, breeding, and industrial development. Increased Arctic oil operations and shipping pose risks like potential fatal oil spills that could devastate entire food chains, while construction and routine ship emissions also introduce disturbances.
The document discusses the external economic drivers that will influence Florida's economy from 2011-2012, noting that the national and global economies will see below potential growth during this period. Key factors that will impact Florida include slow household balance sheet repair, constrained government spending, and monetary policies aimed at supporting the recovery. Overall the outlook is for a slow but continuing economic recovery in Florida through 2012, with risks including federal spending cuts, inflation, and weakness in local economies dependent on population growth.
The document provides step-by-step instructions for connecting ADXL300-series accelerometers to d.tools boards. It details soldering headers onto the accelerometer boards, making connecting cables with crimped pins and housings, and correctly matching the connections between the accelerometer boards and d.tools boards to read acceleration data for both axes into Exemplar or Flash.
Czeslaw Milosz was a Polish poet, prose writer, and diplomat born in 1911 in what was then Russian Lithuania. He came from a multi-ethnic family and was raised Catholic but later adopted atheism in his youth. He wrote extensively in Polish and spent time in Warsaw during World War II before defecting from communist Poland in 1951. His 1953 book The Captive Mind examined the attraction of Stalinism among Eastern European intellectuals. The document also discusses other Polish intellectuals and writers such as Wislawa Szymborska and their relationship with and experiences under Russian and communist rule.
- Grim prospects for world economy
- Premature fiscal austerity in developed countries is hampering recovery
- Developing countries remain vulnerable to downturns in the developed economies
QNB’s expects global outlook to be gloomier than the OECDQNB Group
QNB expects a gloomier global economic outlook than the OECD forecasts. The OECD forecasts modest global growth of 3.4% in 2012, led by the US at 2.4%, but QNB sees downside risks from a potential Greek exit from the Eurozone and weak recent economic data. A Greek exit could increase fears about other troubled Eurozone countries like Spain. Additionally, recent data shows weakness in the US, China, India and other global economies. QNB believes the Eurozone crisis and its impact on the world economy will continue intensifying unless governments take significant policy actions to stimulate growth and stabilize the situation.
1) Investor confidence declined in Q2 2012 due to concerns over slowing economic growth and Europe's debt crisis.
2) Global stock markets fell significantly, with the S&P 500 declining 3.3% and commodity prices dropping sharply.
3) The Canadian market underperformed due to its reliance on commodities, with the energy and materials sectors declining over 8% and 11% respectively.
1) Investor confidence declined in Q2 2012 due to concerns around slowing economic growth and sovereign debt issues in Europe. Global stock markets fell sharply, while bonds yields hit record lows as investors sought safe havens.
2) The Canadian market underperformed due to its reliance on commodities, which declined with global growth concerns. Energy and materials stocks dropped significantly.
3) While markets remain volatile, company fundamentals remain solid with low debt, high cash levels, and continuing dividend growth. Overall the document recommends maintaining a balanced portfolio for the long term.
1) The document provides an outlook and asset allocation for 2013, noting that global GDP growth is expected to be similar to 2012 while central banks continue quantitative easing.
2) Quantitative easing is expected to be positive for equities, real estate, and commodities while keeping government bond yields low.
3) In the US, growth is forecast at around 2% as the private sector offsets government contraction, while the Fed continues bond purchases.
4) The Eurozone is expected to see modest recovery in 2013 led by Germany and France, while southern Europe continues to contract amid austerity and high financing costs.
- The document summarizes major market developments in June 2011, including disappointing US economic data and European sovereign debt issues that dampened investor confidence and sparked an equity market pullback.
- Key factors that contributed to the market downturn included weak economic data from the US and Europe, as well as ongoing concerns about European sovereign debt and the Greek debt crisis.
- The resource-heavy Canadian market, as measured by the S&P/TSX Composite, underperformed other markets in June due to its exposure to declining commodity prices. Energy and materials sectors saw some of the largest declines.
- Global equity markets were modestly negative in April as concerns about slowing global growth dampened investor confidence, outweighing strong US corporate earnings. The Canadian bond market performed better than equities.
- Within the Canadian market, the healthcare and consumer staples sectors outperformed while materials underperformed due to concerns about rising costs for gold and mining companies.
- Uncertainty about the economic outlook and political situation in Europe continued to weigh on markets and increased volatility.
The document provides an analysis of Asian economic trends and outlook. It finds that while growth in Asia will slow due to global factors like a declining US economy, domestic demand drivers in Asia like consumption, investment, and intra-Asian trade will help cushion the impact and allow growth to continue, albeit at a slower pace. Inflation remains a risk but proactive central bank actions can help prevent stagflation. Overall the analysis concludes Asia will experience a slowdown rather than a collapse.
Volkan emre financial system development in ld csVolkan Emre
The document analyzes potential ways the IMF could have influenced Turkey to prevent the 2001 currency crisis. It finds weaknesses in the IMF program's preparation, timing, and implementation. Specifically:
1) The program was designed too quickly in under 5 months, without enough consideration of structural issues like state banks' bad debts.
2) Inflation targets and exchange rate pegs were based on unrealistic estimates and neglected price stickiness issues.
3) Regulatory weaknesses in Turkey's banking system, like maturity mismatches, were not adequately addressed before the crisis.
Addressing these issues through more preparation time, realistic estimates, and earlier regulatory reforms could have strengthened the program and potentially prevented the currency crisis.
Global equity markets ended 2010 strongly, boosted by improving investor confidence and positive global growth outlook. In the US, quantitative easing and tax cuts helped improve the economic outlook and sentiment, giving a lift to global markets. European markets struggled with sovereign debt worries, particularly regarding Greece and Ireland. Bond markets were strong initially but weakened later in the year. Commodity prices like gold, oil, and metals increased significantly in 2010. The Canadian dollar rose close to 6% against the US dollar due to global growth and commodity prices. Going forward, volatility is expected to remain as investors take a diversified approach in a gradually improving global economic environment.
February saw global stock markets rise despite geopolitical concerns from the Middle East. Commodity prices increased, helping the Canadian market, especially the energy and materials sectors. Bond markets were less impacted and generated income returns. While higher oil prices may fuel inflation concerns, central banks face balancing economic growth and inflation.
This document provides a summary of major market developments in May and year-to-date. It discusses macroeconomic concerns that drove declines in global stock markets and commodity prices in May. The S&P 500, MSCI EAFE, emerging markets and Canadian indexes all declined significantly in May. Bond yields fell to very low levels. The document also includes perspectives from GLC portfolio managers who argue that despite short-term volatility, there remains a compelling long-term case for investing in equities at this time.
This document summarizes an academic research paper on determining future key items for trade agreements (FTAs) between Indonesia and partner countries. The research assesses Indonesia's priority economic sectors and foreign direct investment (FDI) impacts to identify opportunities. It reviews Indonesia's economic statistics and sectoral contributions to GDP. Interviews and previous FTA assessments inform the analysis to provide recommendations on negotiation items that support Indonesia's economic development goals through trade agreements.
The document summarizes market developments in July 2012. Key points include:
1) Global markets gained in July due to expectations that central banks will stimulate the economy. The energy sector led Canadian market gains while defensive sectors outperformed cyclicals.
2) Second quarter US and Canadian GDP growth was weak. US home construction rose to its highest level since 2008 but a sluggish economy could hamper further gains.
3) Volatility continued as the eurozone debt crisis weighed on markets. Sentiment received a boost from ECB commitments but the crisis' resolution remains uncertain.
Le monde en 2050 : les perspectives de PwC (2013)PwC France
http://pwc.to/V9rjZn
Selon le dernier rapport World in 2050 publié par PwC, la crise financière a accéléré le déplacement du centre de gravité de l’économie mondiale. La Chine, les États-Unis et l’Inde devraient conforter leur suprématie d’ici à 2050, mais les pays émergents n’en restent pas moins confrontés à d’immenses défis pour inscrire dans la durée leur forte croissance récente. Selon PwC, d’ici 2050, l’Indonésie, le Nigeria et le Vietnam pourraient connaître une progression spectaculaire ; le Brésil pourrait supplanter le Japon à la 4e place, et la Turquie pourrait s’imposer comme l’une des premières économies d’Europe.
This document summarizes the global economic outlook from Swedbank. It notes that global GDP growth forecasts for 2012 and 2013 have been revised downward to 3.0% and 3.1% respectively, due to slowing growth in developed economies and emerging markets. While some countries saw upward revisions to 2012 growth due to strong early year results, growth is expected to weaken further in 2013, especially in the eurozone and US. Potential global growth is now estimated around 3.8%, lower than previous estimates, due to issues like high debt levels, weak financial systems, and insufficient reforms. Downside risks to the outlook are seen as more probable than upside risks.
Climate change and shorter ice seasons are threatening Arctic environments by impacting polar ice which affects wildlife rest, breeding, and industrial development. Increased Arctic oil operations and shipping pose risks like potential fatal oil spills that could devastate entire food chains, while construction and routine ship emissions also introduce disturbances.
The document discusses the external economic drivers that will influence Florida's economy from 2011-2012, noting that the national and global economies will see below potential growth during this period. Key factors that will impact Florida include slow household balance sheet repair, constrained government spending, and monetary policies aimed at supporting the recovery. Overall the outlook is for a slow but continuing economic recovery in Florida through 2012, with risks including federal spending cuts, inflation, and weakness in local economies dependent on population growth.
The document provides step-by-step instructions for connecting ADXL300-series accelerometers to d.tools boards. It details soldering headers onto the accelerometer boards, making connecting cables with crimped pins and housings, and correctly matching the connections between the accelerometer boards and d.tools boards to read acceleration data for both axes into Exemplar or Flash.
Czeslaw Milosz was a Polish poet, prose writer, and diplomat born in 1911 in what was then Russian Lithuania. He came from a multi-ethnic family and was raised Catholic but later adopted atheism in his youth. He wrote extensively in Polish and spent time in Warsaw during World War II before defecting from communist Poland in 1951. His 1953 book The Captive Mind examined the attraction of Stalinism among Eastern European intellectuals. The document also discusses other Polish intellectuals and writers such as Wislawa Szymborska and their relationship with and experiences under Russian and communist rule.
The leatherback turtle is critically endangered and listed on the IUCN Red List. It is the largest sea turtle and can be found in over 70 countries. The harvesting of eggs on beaches and ocean pollution from plastic waste are major threats. If extreme measures are not taken to limit pollution and reform fishing practices, these unique deep-diving turtles that have inhabited our oceans for over 100 million years may become extinct. International cooperation is needed to prevent the extinction of this migratory species.
The document discusses the threats that rising global temperatures pose to coral reefs. It explains that coral bleaching occurs when water temperatures increase, causing corals to expel algae living in their tissues that are vital to their health. The document also notes that Australia is planning to create the world's largest marine protection zone in the Coral Sea to help preserve the reefs.
This document summarizes a business orientation meeting for VMobile Technologies Inc. VMobile is a financing company that allows users to earn income through prepaid loads on their existing cell phones. It has over 300 prepaid products and turns cell phones from a liability to an asset. The presentation outlines a technopreneur package costing 3,988 pesos that provides business tools and the ability to earn up to 64,500 pesos per month. Case studies are presented of individuals earning between 250,000 to over 1 million pesos monthly through VMobile.
Este documento presenta un proyecto de galería fotográfica realizado por Marbi Yinet Capera y Jose Luis García Muñoz para su curso de Grupo-401117_26 en la Universidad Nacional Abierta y a Distancia (UNAD) en el año 2011 bajo la tutoría de Luis Carlos Ospino.
This manual provides instructions for properly installing and using the ezGluer PVA 1.5 pneumatic glue feeder. It describes the feeder's technical specifications and components. It also provides safety guidelines and maintenance instructions. The manual explains that the feeder uses compressed air to dispense vinyl glues through attached glue guns. It instructs users to carefully follow the procedures for setup, use, refilling, and maintenance to safely and effectively operate the equipment.
Este documento presenta una discusión sobre los valores éticos y morales que debemos practicar. Propone varios valores como decir la verdad, no dañar a otros, ayudar a los demás, ser generoso, y educar a los estudiantes y a otros en valores. Sugiere que los valores son importantes para ser mejores personas y tener una vida mejor.
The central themes of the novel are sacrifice, political control, loyalty, and identity. Minerva Mirabal sacrificed the most of her personal life working against Trujillo's political regime. Trujillo ruled with constant fear, having people disappear if they were suspected of disloyalty. The Mirabal family showed strong loyalty to each other despite attempts to divide them. In order to stay safe, the Mirabals had to create fake identities while remaining committed to their ideals of a free nation.
Sea turtles face many threats to their survival, both natural and man-made. They are at risk from being hit by cars on beaches, becoming disoriented by artificial lights near nesting sites, and having their nesting beaches made unusable by sea walls. Predators like raccoons can destroy a large percentage of nests on beaches. Sea turtles also ingest garbage mistaken as food which can be fatal, and some populations continue to be hunted for food or luxury items, driving certain species to endangered status.
The document discusses various topics including:
1. Monitoring devices that were used to obtain discussion and detect if computer had been delivered.
2. Experiments involving monitoring devices that can reflect or absorb radiation.
3. Cathodoluminescence involving light generated by electrons driving monitoring devices.
The document discusses the issues with global tax havens and their costs. It notes that the global tax haven industry is huge and hurts economic growth and development. Trillions of dollars are missing from countries' tax bases and held in havens, growing transnational corporate abuses. Solutions require transparency, ending tax and rule competition between countries, and addressing the roles of professionals and institutions that enable tax haven abuse.
This report outlines the global macroeconomic trends that are expected to impact businesses over the next five years. Valuable insight includes the challenges of the post-recession recovery, as well as the risks and opportunities facing businesses in established and emerging regional economies.
The document discusses the shape of the global economic recovery and associated risks. It finds that while growth rebounded in 2010, the recovery is not sustainable and a downturn is expected in 2011. Europe faces significant risks from debt problems and austerity measures. The US recovery depends on weak consumer demand as households pay down debt. China also faces recession risks from a slowing property market and investment.
The publication predicts weaker global growth in 2011 and 2012 as the recovery has lost momentum since the middle of 2010. World gross product is forecast to expand by 3.1 per cent in 2011 and 3.5 per cent in 2012, following estimated growth of 3.6 per cent in 2010. The report emphasizes that the outlook remains uncertain, surrounded by serious downside risks. It further indicates that, in the short run, more fiscal stimulus will be needed to reinvigorate the global recovery, but that it will need to be better coordinated with monetary policies and reoriented to provide stronger support to employment generation.
Global FDI flows remained largely stagnant in 2010, increasing only 1% to $1,122 billion. For the first time, developing and transition economies received over half of global FDI flows as their economies rebounded, while FDI to developed countries continued declining. Within components of FDI, reinvested earnings increased due to improved economic conditions and profits in developing countries, but equity investments and intra-company loans remained subdued due to uncertainties in currency and debt markets. Cross-border M&As increased 37% while greenfield investments declined. FDI flows showed uneven patterns between regions and quarters during 2010 as the global recovery remained hesitant.
The document summarizes the Irish economic outlook. It notes that a narrow recovery is underway, supported by a recovering global economy. Exports are driving Ireland's recovery as competitiveness has improved due to gains in cost and price competitiveness. However, domestic demand remains weak with consumption and investment continuing to contract.
The document summarizes the global and Irish economic outlook. It notes that Ireland is recovering from recession in 2011, with GDP growth projected to be 1%. However, domestic demand is still contracting, though at a slower pace, while exports are driving the recovery. Challenges remain in restoring public finances and boosting jobs. Advanced economies are stuck in a slow growth environment.
The document provides an outlook on the global economy and investment markets for 2012. It notes that bond yields in major markets are at historic lows due to actions by central banks and weak economic growth. However, it warns that bond markets face potential risks in 2012. Specifically, large government debt maturing in 2012 could put pressure on yields if economies do not improve. Additionally, an unexpected rise in inflation could cause bond prices to drop sharply from current low levels. Overall the outlook suggests continued uncertainty around the Eurozone crisis and slowing global growth may lead to further volatility in financial markets in the coming year.
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Florida's New Normal Economy
1. Growing Florida and Houston Economic Perspectives:
South your South Florida Business in the
“New Normal” for Banking Opportunities
Implications Economy
Dr. J. Antonio Villamil
Dean, School of Business and Research Professor of Economics
St. Thomas University
The Cuban American CPAs Association, Inc
Fall Seminar
November 9, 2011
2. The 2011-2012 Business Environment: Managing your Firm in the
“New Normal” Economy
A prolonged period of below potential economic growth in US and
industrial countries
Growing business opportunities in selected emerging markets of
Asia and Latin America – positive for South Florida businesses
Low ―pricing power‖ for most products and services (e.g., low and
stable inflation), which suggests a prolonged period of relatively low-
real interest rates
Consumers and businesses ―reliquifying‖ balance sheets
Emphasis on productivity, smart expense management and credit
quality of receivables to improve profitability of your business
3. South Florida Financial and Economic Drivers Becoming More
Positive Since 2009, but Downside Risks Remain in 2011-2012
South Florida’s Economy Starting to Recover Slowly
from a Deep Recession
Economic Drivers Outlook 2011-2012
Moderate growth in 2011 and into 2012 (below
US Economy
potential)
Top trade and investment partners of South
Florida expanding, fueling demand for South
Global Economy Florida’s goods and services (trade
finance, exports, tourism, investments in real
estate)
Credit availability is improving, but still tight
for small businesses and real estate (two key
Financial Markets
sectors of South Florida) – “Take your banker
to lunch”
4.
5. US Economic Growth Driver of South Florida: Below Potential
Economic Growth Through 2012
Indicator 2009 2010 2011E 2012F
Economic Growth ( % Real GDP) -3.5 3.0 2.0 2.5
Inflation ( % Core CPI/U) 1.7 1.0 1.5 2.0
Personal Income Growth ( %) -4.3 3.7 3.0 3.5
Fed Funds Rate (Average) 0.16 0.18 0.25 0.25
Unemployment Rate (%) 9.3 9.6 9.0 8.0
Sources: Bureau of Economic Analysis, Bureau of Labor Statistics, Federal Reserve and UCF. Estimates (E) and
Forecasts (F) by The Washington Economics Group (WEG).
6. Global Economic Driver of South Florida: Stronger Economic
Growth in Selected Emerging Markets, but Sluggish in Many
Industrial Countries
∆ % from Previous Period
Region/Country
2009 2010E 2011E 2012F
World Output (GDP), of which -0.7 5.1 3.5 3.8
Japan -6.3 4.0 1.0 2.3
United Kingdom -4.9 1.4 1.1 1.6
Canada -2.8 3.2 2.1 2.0 FDI Flows
to Florida
Euro Area, of which -4.3 1.8 Flat 1.5
Germany -5.1 3.6 2.0 1.5
France -2.6 1.4 Flat 1.0
Spain -3.7 -0.1 -1.0 Flat
Italy -5.2 1.3 -1.0 Flat
Developing Asia, of which 7.2 9.5 8.2 8.0
China 9.2 10.3 9.5 9.0
India 6.8 10.1 7.8 7.0
Source: International Monetary Fund, World Economic Outlook, Update September 2011 and The
Washington Economics Group (WEG) for Estimates (E) and Forecasts (F).
7. Global Economic Activity: Latin America Region Expanding at
Moderate Pace – Positive for South Florida Exports, Tourism,
Investment
Region/Country 2009E 2010 2011E 2012F
Latin America & the Caribbean, of which -2.1 5.9 4.7 4.1
Brazil -0.6 7.5 4.0 4.0
Mexico -6.1 5.4 4.0 3.5
Colombia 1.5 4.3 5.3 5.0
Dominican Republic 3.5 7.8 5.0 4.5
Chile -1.7 5.2 6.3 4.5
Peru 0.9 8.8 7.1 4.0
Argentina 0.9 9.2 8.3 4.0
Source: Economic Commission for Latin America and the Caribbean (ECLAC), Economic Survey of Latin
America and the Caribbean 2010 -2011 and The Washington Economics Group (WEG) for Estimates (E) and
Forecasts (F).
8. External Drivers Impacts on South Florida: Moderate Recovery
with Real Estate Markets Improving, Growing Global Business,
Visitors
Indicators 2009 2010 2011E 2012F
Real Gross Domestic Product (Δ%) -3.1 2.0 2.5 3.0
Personal Income (Δ%) -3.3 2.0 3.5 4.0
Population (Δ%) 2.0 2.1 1.5 1.0
Total Non-Ag Employment (Δ%) -6.2 -1.0 1.5 2.0
Exports Growth (Δ%) -9.1 18.0 19.0 15.0
Up
Single-Family Home Median Price (Δ%) -24.0 -4.1 Stable
Slightly
Sources: Bureau of Economic Analysis, Florida Agency for Workforce Innovation, Enterprise Florida, Inc. Florida
Association of Realtors, UCF and The Washington Economics Group (WEG) for Estimates (E) and Forecasts
(F).
9. Where are the Business Opportunities in South Florida under the
“New Normal”? (2011-2012)
Mergers and acquisitions (M&A activity)
Exports to selected emerging markets
Trade-related finance
―Knowledge‖ services (accounting, legal, health)
Foreign companies investing in South Florida
Selective income producing properties (rentals, warehouses)
Wealth management (―boomers‖ and ―high net worth‖ foreign
individuals
Mortgage refinancing products
10. Sectors/Industries with Growing Employment Levels in South
Florida
Professional and business services
(accounting, legal, IT, management, engineering and others)
Health-related manufacturing and services
Private education providers
International trade-related companies
Tourism and hospitality-related industries and companies
Wholesale Trade
11. Concluding Perspectives
A much-changed economic environment for business through
2012
A ―New Normal‖: Slower economic growth than in prior cycles with
ample financial liquidity
Consumers, corporations and businesses repairing balance sheets
Risk shifting from private to public sector (public finance a key issue)
Low and stable real short-term interest rates through 2012
continued
12. Concluding Perspectives (continuation)
2010 was a transition year to a moderate acceleration in the economic recovery of
South Florida in 2011-2012
There is significant statistical dispersion around average levels of industry
performance in Florida
Large and diversified Florida counties and regions will outperform real estate and
population-driven ones
Where in Florida?
Stronger Economic Outlook Weaker Economic Outlook
• Miami-Dade, Broward, Palm Beach • Southwest Florida (Collier to Sarasota
Counties)
• I-4 Technology Corridor (Orlando
Region to Tampa Bay) • Brevard County (Space Coast)
• Jacksonville (Duval County) • Leon County (State Gov.)
• Alachua County (Gainesville) • Rural, agricultural-dependent counties
13. To Finalize: Four Macroeconomic Indicators to Track in the “New
Normal” Economy
1 US HOUSEHOLD NET WORTH
2 FLOW OF FUNDS
3 MONETARY BASE
4 INTEREST RATES
14. US Household Net Worth: Consumers Paying Down Debt,
Spending Cautiously and in a “Bad Mood”
Household Net Worth
$70
$64
$58 $59
$60 $57
$54 $55 $55
$54
$52
$50
$40
$ Trillion
$30
$20
$10
$0
2007 2008 2009 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
Source: Federal Reserve Bank of St. Louis, Economic Research - Flow of Funds, 2Q-2011, September
16, 2011
15. Flow of Funds
US Non-Financial Debt: Consumers and Businesses “Deleveraging,”
Federal Debt Growing Rapidly, End of “Stimulus” for State & Local Governments
(∆%; Quarterly Data are Seasonally Adjusted at Annual Rates)
State & Local
Years Households Business Federal
Governments
Financing and Housing “Bubbles”
2005 11.1% 8.6% 10.2% 7.0%
2006 10.0% 10.6% 8.3% 3.9%
2007 6.7% 13.1% 9.5% 4.9%
The “Great Recession” and the Aftermath
2008 0.2% 5.8% 2.3% 24.2%
2009 -1.7% -2.7 % 4.8% 22.7%
2010 -2.0% 0.4% 4.5% 20.2%
2010-Q1 -3.1% 0.5 % 4.5% 20.6 %
2010-Q2 -2.2% -1.3% -1.4% 24.4%
2010-Q3 -2.0% 1.1% 5.4% 16.0%
2010-Q4 -0.6% 1.9% 7.9% 14.6%
2011-Q1 -2.0% 2.8% -4.2% 7.9%
2011-Q2 -0.6% 4.0% -3.2% 8.6%
Source: Federal Reserve, Flow of Funds, Q2-2011, September 16, 2011.
16. “Helicopter Ben!”: Monetary Base at Record Levels
Monetary Base
(Excess Reserves of Banking System)
$2,800
$2.7 Trillion
$2,400
$2,000
US$ Billions
$1,600
$1,200
$800
$400
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: Federal Reserve Bank of St. Louis Economic Research. January 2000-October 2011. Shaded
areas indicate U.S. Recessions.
16
17. How Low Can Short-Term Rates Go : Likely to Remain Close to
Zero Through 2012
Federal Funds Rate
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: Federal Reserve Bank of St. Louis, Economic Research. Latest observations based from
January 2000—October 2011. Shaded areas indicate US recessions.