Latin America’s recovery is on track and growth pickup provides opportunity for reforms in Asia, wrote analysts with the International Monetary Fund (IMF).
Their conclusions corroborated the IMF’s October 2017 World Economic Outlook that pointed out that although long-term challenges remain, “the global upswing in economic activity is strengthening, with global growth projected to rise to 3.6 percent in 2017 and 3.7 percent in 2018.
Dynamic business, investment trends and consumer confidence are fueling better global perspectives especially in advanced economies that should enjoy a stronger rebound from previous forecast than emerging and developing economies that is plus 0.2 percentage points against just plus 0.1.
In addition to better projections of economic growth in Russia, Brazil, Turkey, China once again leads global growth upward with improved statistics particularly on inflation data and with a Producer Price Index (PPI) that beat forecasts.
Overall, said the IMF, “the global pickup in activity that started in the second half of 2016 gained further momentum in the first half of 2017.”