World
Robust, broad-based global expansion. Synchronised growth across regions and economies, in many
cases at above-trend levels. We expect global growth to accelerate to +3.9% this year, marginally
above 2017, as fundamentals remain supportive. We expect the US and eurozone to continue growing
above potential, but do not anticipate any further acceleration.
In China, we expect growth to slow,
and are more worried about inflation and financial risks than consensus.
2018 should mark the peak of the current cyclical expansion; growth should decelerate from 2019.
EU Forecast
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