“Forecasters are only now beginning to feel less optimistic about 2015 growth prospects — with the exception of the eurozone, where data has been surprisingly on the upside,” according to HSBC’s James Pomeroy.
Europe’s been doing well thanks in part to exports and domestic consumption.
And, athough China’s slowed down, it’s still “well above” G7 growth rates. Along with India, it’s been the main driving force behind Asia’s GDP growth rates.
On the flip side, Latin America “struggles to keep pace.” Brazil pulled LatAm down even further, as the country didn’t grow at all in 2014.
As for the US, GDP growth turned negative in Q1, but annual consumption growth is “robust, around 3%,” residential investment as bounced back, and the “drag from government spending has receded.”
Check out each country’s GDP growth year-over-year below.