Global economy is on a upswing
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.