UN projections point to slower global population growth

The downward revisions to global population growth in the UN’s latest projections won’t have a major bearing on our long-term GDP growth forecasts. That’s because a lot of the revision was driven by lower population projections in China, where we had already taken a more downbeat view than the UN. Nonetheless, falling working age populations will weigh on growth prospects and add to fiscal burdens in most economies outside of Africa and parts of Asia in the coming decades.