Global growth remains sluggish
JulkaisusarjaBank of Finland. Bulletin
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201610261461
The global economy is expected to grow by a full 3% annually in 2017–2018, i.e. only slightly faster than in 2016. World trade growth will remain slow relative to GDP growth, as in recent years. In the United States and China, economic growth will continue to be strong and will sustain global growth. A slight rise in the oil price will support gradual economic recovery in Russia. Euro area growth is expected to remain relatively brisk, driven by domestic demand. Brexit will cast a shadow over the growth outlook, particularly for the United Kingdom but also to some extent for the rest of Europe. Emerging economies will continue to develop at a relatively steady pace during the forecast period and are not expected to be much affected by the dip in European growth.
Forecast for the global economy