The World Economy: Forecast Summary, 2018

The global economy is expanding at its fastest pace since 2011. With momentum expected to carry into 2018, we have revised up our forecasts for growth in all of the major economies and regions. But with many economies operating at close to full capacity, some slowdown in the pace of expansion is likely unless productivity surprises on the upside. In the medium term the outlook remains for growth of around 3？ per cent a year. In some economies the cumulative effect of monetary easing is still at work but there are concerns that in some countries a tightening of capacity pressures may lead to increased inflationary impulses.