EFTA01981558 | EFTA01981563 .J.P.Morgan Global Asset Allocation The J.P. Morgan View 11 My 2014 Jan Loeys Global Economic Outlook Summary Real GDP %owxayear ago 2014 2015 2013 4Q13 Real GDP %aerawfous peed. isar 1Q14 2014 3014 4014 1Q15 4Q13 Consumer prices %wain* 2014 4014 4015 United States Canada Latin America Argentina Brazil Chile Colombia Ecuador Mexico Peru Uruguay Venezuela 1.9 2.0 2.5 2.9 2.5 4.1 4.7 4.5 1.1 5.8 4.7 1.3 1.4 2.2 1.6 -1.5 1.1 2.5 5.0 3.3 2.9 4.2 3.0 -1.0 2.9 2.6 2.9 3.0 1.8 3.5 45 4.0 3.8 55 4.0 2.5 2.6 2.7 1.5 4.8 1.8 -0.4 31 4.7 0.5 6.9 6.4 2.3 -2.9 12 01 42 0.7 3.0 9.7 2,0 1.1 0.3 -1.8 41 2.5 22 1.4 S4: Q,2 21 21 1.5 4,Q I§ A4 t 0.0 3.0 2.5 2.1 .4.6 1.8 4.0 4.0 2.0 3.9 6.0 6.0 t 2.5 3.0 2.7 28 -1.4 2.7 2.8 4.0 2.5 3.7 7.0 40 t 2.0 3.0 2.8 3.1 4.0 22 3.2 5.0 35 3.6 5.5 3.0 4 25 12 0.9 4.5 10.7 5.8 2.5 1.8 2.3 33 3.0 8.6 52.9 2.1 2.5 t 5.0 34.0 6.3 4.5 2.8 3,4 t 3.7 32 81 572 2.4 2.3 5.1 40.0 6.3 4.2 4 3.2 3.5 t 4.1 3.0 75 58.2 1.9 2.0 4 4.7 45.0 6.3 3.0 3.0 4.0 3.1 2.5 7.3 35.0 Asia/Pacific Japan Australia New Zealand EM Asia China India EM Asia ex Chinaandia Hong Kai Indonesia Korea Malaysia Philippines Ssigapore Taiwan Thailand 4.6 1.5 2A 2.8 6.2 7.7 4.7 4.0 2.9 5.8 3.0 4.7 7.2 3.9 2.1 2.9 4.5 1 1.3 4 3.0 32 61 72 5.3 4.0 2.8 49 38 55 6.0 4.4 35 11 4.8 1.4 4 32 2.8 6.4 72 65 4.6 2.6 SI 40 5.1 6.4 SA 38 42 IS 0.3 32 41 6.4 7.6 42 5.1 3.6 6.0 3.6 7.6 6.1 69 7.6 0.5 5.3 6.7 45 4.0 48 5.9 5.0 2.3 0.8 4.1 3.8 3.3 4.9 2.3 1.9 42 22 4 41 4 LI OA Id t 12 6_,Q t 4A t 11 5.,Q 21 t Ill LA 91 3.5 5.3 t 3.0 t 3.1 1.9 6.5 7.6 5.5 4.7 4.2 5.0 4.7 5.5 5.7 4.9 4.0 4.0 50 2.0 4.3 4.7 6.3 4 7.4 5.0 4 4.6 42 45 4.0 5.5 5.7 6.6 4.2 4.0 4.8 2.0 2.9 4.8 62 7.1 6.0 4 4.4 20 5.3 4.0 50 65 49 3.8 42 32 IA 2.7 1.6 40 2.9 10.6 3.3 4.3 54 IA 30 3.5 2.0 0.6 1.7 3.3 38 2.9 18 3.1 1.9 8.6 32 3.6 62 1.6
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