Wednesday, October 11, 2017 4:14 PM EDT
The International Monetary Fund (IMF) raised its global growth forecast for 2017 and 2018 due to a broad-based recovery around the world. In its latest World Economic Outlook, the IMF adjusted their forecast up 0.1 percentage point to 3.6 percent in 2017 and 3.7 percent in 2018.
"The global recovery is continuing, and at a faster pace... we see an accelerating cyclical upswing boosting Europe, China, Japan, and the United States, as well as emerging Asia," said IMF chief economist Maurice Obstfeld.
Runnymede is most bullish on US and Chinese growth prospects. While Europe and Japan posted solid growth in 2017, they face serious demographic challenges which will limit growth for many years.
The IMF expects the Chinese economy to grow 6.8 percent this year and 6.5 percent next year, both 0.1 percentage point higher than its previous forecast in July.
The fund also revised up its U.S. growth forecast to 2.2 percent in 2017 and 2.3 percent in 2018, 0.1 and 0.2 percentage point, respectively, higher than its projection in July.
Europe is less rosy with growth expected to slow to 1.9 percent in 2018 after a decent 2.1 percent growth in 2017. Japan is also expected to slow in 2018 to 0.7 percent but that is a bit higher than previous estimates.
Disclosure: We will discuss our outlook on growth on our quarterly webcast tomorrow at 2:30pm. If you are interested in attending, please email us at
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Disclosure:
We will discuss our outlook on growth on our quarterly webcast tomorrow at 2:30pm. If you are interested in attending, please email us at
firm@runnymede.com.
Disclosure: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Runnymede Capital Management, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Runnymede Capital Management, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Runnymede Capital Management, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Runnymede Capital Management, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.
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