Global Economic Outlook
Annual Per Cent Change Unless Otherwise Indicated
2018 Share*			Forecast
Real GDP	(%)	2018	2019	2020	2021
World	100.0	3.6	2.8	3.0	3.3
North America	18.5	2.8	2.0	1.9	1.9
United States	15.2	2.9	2.3	2.0	1.9
Canada	1.4	2.0	1.7	1.6	1.8
Mexico	1.9	2.1	0.1	1.5	2.1
European Union (EU-28)	16.3	2.0	1.4	1.2	1.5
Euro Area (EU-19)	11.4	1.9	1.2	1.0	1.3
Germany	3.2	1.5	0.5	0.5	1.4
France	2.2	1.7	1.3	1.3	1.3
Italy	1.8	0.7	0.1	0.4	0.8
United Kingdom	2.2	1.4	1.3	0.9	1.5
EU accession members	2.6	4.0	3.1	2.6	2.6
Asia	45.0	5.2	4.5	4.7	4.7
Japan	4.1	0.3	1.2	0.6	0.8
Asian NIC's	3.4	2.7	1.5	2.2	2.8
Hong Kong	0.4	3.0	-1.6	-1.9	2.9
Korea	1.7	2.7	1.9	2.9	3.0
Singapore	0.4	3.2	0.8	2.2	2.5
Taiwan	0.9	2.7	2.5	2.9	2.9
Russia	3.1	2.2	1.3	2.2	1.6
Australia & New Zealand	1.1	2.7	2.0	2.4	2.5
Developing Asia	33.2	6.4	5.6	5.7	5.8
ASEAN-5	5.5	5.3	4.8	4.7	5.0
China	18.7	6.5	6.2	5.9	5.7
India**	7.7	6.8	4.6	6.1	6.7
Central/South America	5.6	0.3	-0.2	1.2	2.2
Brazil	2.5	1.3	1.1	2.0	2.2
Other Developing	13.6	2.5	1.4	2.5	3.3
Other Advanced	1.1	2.6	1.5	1.9	2.0
*Share of world GDP on a purchasing-power-parity (PPP) basis.
Forecast as at December 2019. **Forecast for India refers to fiscal year.
Source: IMF, TD Economics.