Analysts at HSBC have raised their global growth forecasts for the next two years as the synchronized upturn continues while the inflation remains subdued.
“Largely as a result of an upgrade to the Eurozone, we recently lifted our global growth forecast by 0.1% to 2.8% in each of 2017 and 2018. This compares with a 2.5% average between 2011 and 2016, which is good news, but much less spectacular than the recent stellar financial market performance might suggest.”
“Our initial projections for 2019 point to a further expansion in the global economy but with no meaningful rise in inflation. In the US, we expect “Japan-lite” growth of about 2%, with further declines in the unemployment rate, but still very little pick-up in productivity growth or labour’s bargaining power. For central banks, the risk of a policy error is rising.”
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