McKinsey says declining population could reduce global economic growth by 40%

Report from the McKinsey Global Institute (via the WSJ):

• Declining population growth that shrinks the pool of available labor over the next 50 years will reduce by 40% the rate of growth in global economic output for the world’s 20 largest economies compared to the past 50 years
• To compensate … productivity needs to accelerate 80% from its historical rate to keep global growth in gross domestic product from slowing
• Workforce … could peak in most of the 20 countries analyzed in the report over the coming 50 years
• Several nations will see outright declines in employment, including Japan, Germany, Russia, Italy and China
• McKinsey sees GDP growth in the U.S. slowing by around one third, from an annual rate of 2.9% to 1.9%
• Canada …. growth will drop by more than half to 1.5% from 3.1%

–

OK ForexLive …. you know what needs doing … go forth and multiply!