World Bank predicts short-term growth boost
Wednesday, January 10th 2018, 12:30PM
The World Bank forecasts global economic growth to edge up to 3.1% 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.
But 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 warned in its January 2018 Global Economic Prospects.
Growth in advanced economies is expected to moderate slightly to 2.2% 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%, as activity in commodity exporters continues to recover.
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