U.S. Outlook: Global economy gets its groove back

Scott Anderson
Posted by Scott Anderson
Chief Economist

We are seeing increasing signs of a synchronized rebound in the global economy, particularly in developed markets.

Graph showing recent trends in Eurozone inflationWe believe this goes beyond a U.S. election “relief rally” or the promise of a Trump-driven fiscal stimulus package.

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.

Click here to read my full report.

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