Economy to slow down worldwide, U.N. says

The United Nations cited expectations of only 1.8% growth for 2008, compared with growth of 3.8% in 2007.
MAY 16, 2008
After relatively steady growth over 2007, the worldwide economy seems destined for a severe slowdown in the coming period. According to the midyear economic projections of the United Nations, the world economy is contracting. The New York-based international organization cited expectations of only 1.8% growth for 2008, compared with growth of 3.8% in 2007. Economic growth rates for developing countries are projected to be 5% for this year and 4.8% next year, following healthier growth of 7.3% over 2007. Officials at the U.N. cited volatile energy costs, a housing market not expected to stabilize until 2009 and poor economic performance in the United States in their pessimistic projections. The U.N. maintains that developments in the United States will be a determining factor in the economic future of the rest of the world.

Latest News

Mercer Advisors and Compound Planning bet big on AI for family offices
Mercer Advisors and Compound Planning bet big on AI for family offices

The mega-RIA and the digital family office are making separate AI platform launches as the broader industry doubles down on the technology.

RIA dealmaking races to a record pace as consolidators bulk up on scale
RIA dealmaking races to a record pace as consolidators bulk up on scale

Wealth management M&A is on track for its busiest year yet, with serial acquirers and private equity capital pushing deal volume toward 500 transactions in 2026.

Surging equities help institutional investors boost retirement funds in Q2
Surging equities help institutional investors boost retirement funds in Q2

Northern Trust data shows US pension and endowment plans surged on broad equity rallies, with foundations leading all plan types.

AI costs are rising and public trust is falling, the debate is just getting started
AI costs are rising and public trust is falling, the debate is just getting started

From IBM's cybercrime data to Gallup's trust survey and insider selling at Nvidia and CoreWeave, the warning signs are real — even if one firm thinks the market is misreading the numbers.

FL Putnam lands minority investment to fuel national RIA expansion
FL Putnam lands minority investment to fuel national RIA expansion

Bixby Wealth Solutions, backed by Carlyle's Global Credit business, acquires a stake in the $11 billion AUM firm.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income