BlackRock Investment Institute released the latest Economic Cycle Survey results for North America and Western Europe (covered here: http://trueeconomics.blogspot.ie/2014/08/2382014-blackrock-institute-survey-n.html). Here are the survey results for EMEA:
"…this month’s EMEA Economic Cycle Survey presented a mixed outlook for the region. The consensus of respondents describe Croatia and the Ukraine in a recessionary state, with an even split of economists gauging Russia, Hungary and Turkey to be in a recessionary or contraction phase."
6 months out: "Over the next two quarters, the consensus shifts toward expansion for Russia and Hungary and an even split between expansion or recession for Turkey."
12 month out: "At the 12 month horizon, the consensus expecting all EMEA countries to strengthen or remain the same with the exception of Russia, Hungary, Turkey and the Ukraine."
Global: "Globally, respondents remain positive on the global growth cycle with a net 59% of 32 respondents expecting a strengthening world economy over the next 12 months – an 26% decrease from the net 85% figure last month. The consensus of economists project mid-cycle expansion over the next 6 months for the global economy."
Two charts to illustrate:
Note: Red dot represents Czech Republic, Kazakhstan, Romania, Israel, Egypt, Poland, Slovenia and Slovakia.
Previous month results are here: http://trueeconomics.blogspot.ie/2014/07/1172014-blackrock-institute-survey-emea.html
Note: these views reflect opinions of survey respondents, not that of the BlackRock Investment Institute. Also note: cover of countries is relatively uneven, with some countries being assessed by a relatively small number of experts.
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