Economic News

Last updated: Wednesday, April 24, 2019


Global Economy to Grow 3.1 Pct in 2018

Posted: Friday, January 12, 2018

The World Bank forecast global economic growth to edge up to 3.1 per cent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices.

However, this is largely seen as a short-term upswing. Over the longer term, slowing potential growth - a measure of how fast an economy can expand when labour and capital are fully employed - puts at risk gains in improving living standards and reducing poverty around the world, the World Bank warns in its Global Economic Prospects released in January 2018.

Growth in advanced economies is expected to moderate slightly to 2.2 per cent in 2018, as central banks gradually remove their post-crisis accommodation and as an upturn in investment levels off. Growth in emerging market and developing economies as a whole is projected to strengthen to 4.5 per cent in 2018, as activity in commodity exporters continues to recover. 


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