WASHINGTON — Because the current global economic slowdown is now projected to be more severe and longer than in last month’s Energy Information Administration (EIA) short-term energy outlook, this month’s outlook projects further reductions of global energy demand and additional declines in energy prices.
World real gross domestic product (GDP) growth is projected to slow from about 4% in 2006 and 2007 to about 2.7% this year and 0.5% in 2009. Last month’s EIA outlook assumed world GDP would increase by 1.8% in 2009.
