As if there wasn't enough to worry about on the global stage, the Brookings Institute is out with a new report showing that the global economy is looking increasingly shaky.
According to Brookings, the U.S. remains the only economy that is showing signs of health while growth "in China and other emerging markets appears to be losing momentum." The developed world looks no better, with major European economies like Germany, France and Italy "showing no signs of growth" while Japan's economy actively contracts. Brazil and Russia? Also slumping.
The only other major economy showing signs of life according to Brookings is India, which has seen a rebound in confidence following the appointment of a "reform-minded and credible" central bank governor.
The bleak Brookings assessment was echoed by the IMF, which released a report this week with a similarly downbeat forecast, revising down global growth rates to 3.3 percent -- the same rate as last year.
So what's weighing on the global economy? Geopolitical risks were cited by both the IMF and Brookings as a key factor along with deflationary worries, particularly in Europe.
The IMF compiled this handy chart showing the chances of a recession across the major economic blocs. While no region pushes above the 50 percent mark, Europe looks uncomfortably close.
