Global economic growth outlook has been raised by The International Monetary Fund (IMF), which has cited a post-election surge in confidence in the US that has better customers in large emerging markets and an upper hand in global trade.
I.M.F.’s economists took an opportunity to advise again against protectionist attitudes in developed economies, while giving the fund’s World Economic Outlook. The forecast for fund is high by 3.5 percent, an increase from last year’s 3.1 percent.
IMF being defender of traditional free-trade policies says free of protective barriers like tariffs and duties are important part for healthy economy.
Global trade is back on track, despite of various indicators such as export growth in Asia and high demand for container ships. Global trade volume is expected to increase by 3.8%, which was 2.2% last year. Also, I.M.F. has predicted 3.9% growth in the year 2018. However, the US economy rate was projected to increase to 2.3 percent in 2017.
“There has been a stream of continuing positive data that we have seen since the middle of 2016,” Mr. Obstfeld said. “This pickup in manufacturing, industrial production and trade is fueling our confidence that this year and next year will be substantially better than 2016.”