“The function of economic forecasting is to make astrology look respectable.” — John Kenneth Galbraith
While the track record of macroeconomic forecasting leaves much to be desired, it is natural to have an interest in the growth prospects of the global economy. Recently, Europe has been at the forefront of investor concern due to fiscal instability in Greece and other smaller European economies. There has even been talk of the disintegration of the Euro. The Financial Times published an interesting “economic weather map” of Europe which is displayed below (click on the image for a larger version). Visit the Financial Times website for an interactive version showing the “weather map” at various points in time over the past two years with drill down capabilities for each country.