Global Economic Prospects are key factors to the overall financial outlook of the global economy. There are multiple groups that contribute reports to the world relative to how the economy is progressing. Most reports include information regarding the GDP, GNP, inflation rates, interest rates, unemployment rates, stock/bonds market pricing, real estate market, and new construction. Many outlook groups focus their attention on a short term assessment; keeping their projections based simply on the next year or two. There are other groups that expand their predictions and look into many years ahead.
             Many published economic reports separate economies depending on if they are considered (1) a developed or advanced economy, (2) an economy in transition or an emerging market, or (3) a developing economy. There is some discrepancy relative to what defines and emerging market and developing economy. This definition largely depends upon the group that is analyzing the data; one may deem a region as an emerging market and others may consider it a developing market. A developed or advanced economy is an economy that is more economically developed or economically sound. This type of economy has proven over time that it can sustain economic growth. An emerging market economy is one that contains regions that are still working on their economic growth, but yet, economists consider them to be on the verge of rapid growth or industrialization.
             No matter what type of market, there are many different factors that impact the reports and the overall direction of the economy. Some of the factors that are reviewed in order for organizations to create informative reports are current wages and compensation, current interest rates, the cost of higher education, the housing market and new construction, overall global trade, the growth and/or weakness of emerging markets, political shifts, environmental concerns, and natural disasters (Fontevecchia, 2013...