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Global growth: Little sign of imminent acceleration - NAB

FXStreet (Córdoba) - According to the Research Team at National Australia Bank there is little sign of an imminent acceleration in global growth.

Key Quotes:

“Global growth remains sub-trend and there is little sign of an imminent acceleration in the pace of expansion – which should stay in the 3% to 3½% range next year. The emerging market economies have been the cause of more sluggish growth as these economies generally make by far the biggest contribution to global economic expansion.”

“We have lowered our forecasts for important emerging market economy regions like Latin America and East Asia, reflecting a deep recession in Brazil, falling commodity prices and lacklustre world trade. Some of the big risks hanging over global growth have receded, at least for now, with the impending lift in US rates being the main concern.”

“Conditions remain mixed in the big advanced economies with solid upturns in the UK and US alongside continued weakness in the Euro-zone and Japan and this divergence is being reflected in monetary policies as the ECB has recently eased its policy again while the Fed is preparing to lift US interest rates.”

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