The IMF, Peterson Institute for International Economics (PIIE) and Price Waterhouse Coopers are adjusting growth projections upwards as the global economy is gaining momentum.
The global economy as a whole has gained momentum, according to economists at the Peterson Institute for International Economics (PIIE), in a shared expansion rarely seen. This strong recovery results in part from more accommodative monetary policies and fiscal policies that have shifted from appreciable restraint to mild stimulus.
* In the United States, the prospects remain favorable for steady growth and low inflation in the next couple of years
* US business investment has now picked up after languishing in recent years.
* China’s economy will grow between 6 and 7 percent in 2018, based on continued strong increases in private consumption, which has offset most of the softening of Chinese investment and export growth in recent years
* PIIE indicates evidence contradicts the widespread contention that China’s credit growth poses a major risk
* PIIE believes the doubling GDP from 2010 to 2020 can be achieved with an average growth rate of 6.2 percent over the next three years without incurring additional financial risks.
* Latin America growth will remain sluggish for the next couple of years
PwC said that, for the first time since 2010, it is revising its global growth forecast upwards, bolstered by a robust cyclical recovery in the eurozone and stronger growth in the US.
“We expect global economic growth to be broadly based in 2018, rather than dependent on a few star performers,” said Barret Kupelian, senior economist at PwC.
PwC forecasts China GDP growth to be 6.5% in 2018.
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