The Forward View – Global: December 2017

A good year for the world economy as growth rises above trend.

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Overview:

  • Global economic backdrop is the best for five years as the upturn continues and recent GDP growth rises above trend.
  • Signs of welcome broadening in the expansion to include more investment spending and a lift in key emerging economies.
  • Market volatility and economic policy uncertainty both lower as probability of severe “tail risk” events is marked lower.
  • Labour markets tightening around big advanced economies but still little sign of a pick-up in wage inflation.

For further details, please see the attached document: