Supply Chain Managers Must Deal With Tepid Global Growth

For the third year in a row, global growth has started out strong, only to falter by midyear, said IHS Global Insight Economists.

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The incoming economic data "point to softness" in most parts of the world, IHS adds.

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In Europe, all signs are flashing red. The IHS forecast now incorporates a Greek exit from the Eurozone in mid-2013, and projected growth rates for all regions of the world have been revised downward since last month. Global real GDP is now projected to increase 2.7 percent this year, 3.0 percent in 2013, and 3.8 percent in 2014. Most of the risks are on the downside. Until recently, rising oil prices were viewed as the biggest threat to the global expansion. Now, the re-escalating Eurozone crisis is a bigger danger, followed by the risk of a more pronounced deceleration in the Chinese economy.  Supply Chain Management Review – Read more…