PIIE experts are starting to see momentum for the world’s largest economies in the next two years. Growth estimates were presented at the organization’s semiannual Global Economic Prospects session on April 12, 2017.
David Stockton, PIIE senior fellow, says improvements in advanced economies are driving global growth, with a slight boost anticipated from improved confidence and fiscal stimulus in the United States. Japanese growth remains stable. The UK economy is expected to lag because of Brexit. As for emerging markets,China should experience a modest slowdown. India is expected to remain strong thanks to sound policy reforms. Russia should have a slight upturn after its collapse as oil prices become steady. Brazil’s growth will become positive as the deep recession ends.