The OECD has just published the “Global Economic Outlook 2017.” According to the report, the global economy is expected to pick up moderately but greater efforts are needed to ensure that the benefits from growth and globalisation are more widely shared.
Stronger business and consumer confidence, rising industrial production and recovering employment and trade flows will all contribute to an improvement in global GDP growth from 3.0% in 2016 to 3.6% in 2018, according to the Outlook.
Among the major advanced economies, the recovery will continue in the United States, which is projected to grow by 2.1% in 2017 and 2.4% in 2018. The euro area will see steady growth at 1.8% in 2017 and 2018. In Japan, growth is projected at 1.4% in 2017 and 1% in 2018. The 35-country OECD area is projected to grow by 2.1% in both 2017 and 2018, according to the Outlook.
In China, growth is expected to slow to 6.6% in 2017 and 6.4% in 2018, while India’s growth rates are expected to strengthen to 7.3% this year and 7.7% in 2018. Growth in Brazil is expected to turn positive for 2017 before reaching 1.6% in 2018.
The whole report is available for the IESE Community here.