The world economy will continue to grow at a modest pace, with a gradual improvement projected for the second half of 2015 and 2016, according to the United Nations World Economic Situation and Prospects (WESP) mid- year report launched this week.
One of the interesting predictions in the report is the notion that slow growth has become the "new normal". The broad-based weakness in investment worldwide not only holds back current growth, but also reduces potential growth in the future, the economists say.
But slow growth is better than no growth, and if it's sustainable, then at least we can all plan accordingly.