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Positive momentum for the global economy

Global economy is on a upswing

Positive momentum for the global economy

Global economy is on a upswing, broad based growth is being projected by economists. That is why the International Monetary Fund in January projected a pickup in global growth this year and next – to 3.4 and 3.6 percent – compared to 3.1 percent in 2016.

  • The improved outlook partly reflects a projected pickup in advanced economy activity – helped by expectations of more expansionary US fiscal policy.
  • We are especially encouraged by stronger-than-expected economic activity in the euro area, the United Kingdom, and Japan.
  • Emerging and developing economies, led by China and India, continue to contribute more than three-quarters of total global GDP growth in 2017. Adding to this is a projected normalization of conditions in Brazil and Russia, which have been facing deep recessions.

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