Global economic upturn continues - NAB
The global economic upturn continues, despite some disappointing output data from the big advanced economies in early 2017, according to the research team at NAB.
“The business surveys and the timely monthly updates on industrial output and world trade show expansion continuing at a moderate pace. Inflation remains below central bank targets in several key advanced economies and price pressures coming through the pipeline from commodities and manufacturing are waning. Despite ongoing low inflation, the growing evidence that advanced economy growth is being consolidated at a reasonable rate and the passing of earlier fears of price deflation is causing a policy rethink among several central banks. They seem to be reconside ring the need for such low interest rates and such extensive asset buying. We expect global growth to pick - up from the near 3% rate reached in 2016 to 3¼% this year and 3½% in 2018.”
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