As per the ‘Global Economic Prospects’, published by ‘THE WORLD BANK’ in June 2017, Global activity is firming broadly as expected. Manufacturing and trade are picking up, confidence is improving, and international financing conditions remain benign. A recovery in industrial activity has coincided with a pickup in global trade, after two years of marked weakness. Global growth is projected to strengthen to 2.7 percent in 2017 and 2.9 percent in 2018- 19.
In emerging market and developing economies (EMDEs), growth is predicted to recover to 4.1 percent in 2017 and reach an average of 4.6 percent in 2018-19, as obstacles to growth in commodity exporters diminish, while activity in commodity importers continues to be robust.
Activity in advanced economies is expected to gain momentum in 2017, supported by an upturn in the United States, as previously anticipated. In the Euro Area and Japan, growth forecasts have been upgraded, reflecting strengthening domestic demand and exports. Investment across advanced economies has firmed, while private consumption growth has moderated. Advanced economy growth is expected to accelerate to 1.9 percent in 2017, before moderating gradually in 2018-19.
Annual Report 2016-17