Consumer Spending Expected to Recover This Year
Global consumer expenditure growth is expected to accelerate to 3.0% year-on-year in real terms in 2016 from 2.3% in 2015, largely on account of recovery in key emerging markets.
Yet, compared to the period prior to 2015, emerging and developing economies are entering an era of slow growth.
Real consumer expenditure in developed countries is forecast to grow by 2.3% year-on-year in 2016, marginally up from the 2.2% recorded in 2015.
Consumer spending growth in emerging and developing economies is set to pick up to 4.4% in 2016, from 2.5% in 2015.
This recovery in consumption will be in tandem with the projected improvement in economic conditions in Russia and Latin America, Africa and the Middle East and Asia. Read the full article