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Macroeconomic outlook for 2015

By thowardqz
Published Last updated This article is more than 2 years old.

In recent weeks, Goldman Sachs economists and strategists from around the globe have been publishing and discussing their forecasts for 2015. Below is a series of short videos in which these experts discuss the factors influencing economic growth around the world.

Global economy: Improved growth in a diverging world

Jan Hatzius, chief economist of Global Investment Research at Goldman Sachs, discusses the divergence of economies around the world and why global growth is poised to accelerate.

“Our expectation is a better year for 2015 for the global economy, although there is quite a lot of divergence between the places that are performing well, and the places that still have more problems.” – Jan Hatzius

US: Above trend as Fed moves toward exit

Jan Hatzius lays out the case for above-trend US growth and a shift in Fed policy in 2015.

“We think that the economy is actually still quite far away from full employment, despite the fact that the unemployment rate has now fallen below six percent.” – Jan Hatzius

Emerging markets: An oil split, lowflation, and China’s transition

Dominic Wilson, chief markets economist of Global Investment Research at Goldman Sachs, outlines how oil, inflation, and China’s slowdown will drive emerging markets in 2015.

“We think the growth picture [for the emerging markets] is probably going to be somewhat better, but there’s going to be a lot of dispersion across that group in terms of the growth picture and the kinds of challenges that these economies are facing.” – Dominic Wilson

Japan: Big potential in equities

Kathy Matsui, chief Japan equity strategist for Global Investment Research at Goldman Sachs, discusses factors influencing the Japanese equity market, including easing fiscal policy and increased domestic investment activity.

“The policy environment that we find ourselves looking at in Japan in 2015 is very supportive of the equity markets.” – Kathy Matsui

Europe: Modest growth and vulnerable outlook

Huw Pill, chief European economist of Global Investment Research at Goldman Sachs, discusses the challenging economic conditions in Europe and policy changes that could promote long-term growth.

“It’ll be difficult to get really excited about the growth outlook in Europe in 2015 and 2016. But we do expect a powerful policy response to prevent the downside risk of deflation.” – Huw Pill

Asia: A window of opportunity for long-term reform

Andrew Tilton, chief Asia Pacific economist in Global Investment Research at Goldman Sachs, explains how an improving global climate and monetary easing offer Asian countries an opportunity to follow through on structural reforms in 2015.

“2015 is a window of opportunity for structural reform that can benefit growth in the entire region over the next several years.” – Andrew Tilton

Learn more about the macroeconomic issues and trends that are shaping markets around the world.

This article was written by Goldman Sachs and not by the Quartz editorial staff.

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