Based on financial data collected by the International Monetary Fund, the world is on course for economic disaster. It’s time to pay attention to what’s going on with GDP growth, public debt ratios, and current account surpluses/deficits. Knowing the big picture could help in understanding the phenomenon of economic recessions and prevent them from becoming a reality. To take a better look at what could be in store for us, the following three charts can help track impending doom and give us the insight needed. GDP Growth Rates GDP growth rates measure the rate of GDP expansion from one period to another. This metric is especially useful for comparing countries’ needs in terms of resources and to determine whether or not the growth rate is enough, or too low, for a given economy. For example, if a certain economy’s GDP growth rate drops below 3%, it can be a sign that it might not be able to sustain its current growth rate in the long run. Public Debt Ratios Public debt ratios measure the amount of debt in relation to a country’s GDP. This metric is especially useful for understanding the extent of a country’s debt and how it relates to future potential and growth. Higher debt ratios can serve as an indicator of higher default risk. Current Account Surpluses/Deficits Current accounts track a country’s trade balance. This metric helps us measure a country’s ability to pay for its imports or the extent to which it can borrow money from abroad. A current account surplus, or an increase in the balance, indicates that a country can borrow more from abroad and therefore invest in its economy. A current account deficit, or a decrease in the balance, is a sign of economic trouble and can be an indication that a country may be unable to borrow enough to keep up with economic demand. By gaining an understanding of the three charts mentioned above, we can take a closer look at the current state of the global economy. We can use this information to predict economic trends and to possibly prevent impending doom. It’s important to keep an eye out for any drastic changes in GDP growth rates, public debt ratios, and current account balances as these could be the warning signs we need in order to avert a financial crisis.