U.S. Outlook: Global economy gets its groove back
We are seeing increasing signs of a synchronized rebound in the global economy, particularly in developed markets.
For more, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Dec. 2.Key observations:
- Global economic indicators have been easily beating the market’s low expectations.
- In November the Eurozone manufacturing PMI hit its highest level since April 2014.
- Eurozone inflation, while not roaring, edged higher to 0.5% in October from outright deflation as recently as May.
- We have revised our global growth forecasts modestly higher (for the first time in years) for 2017 as a result of the resilience of recent growth indicators out of the G10 countries and major emerging market economies like China and Russia.