IMF: Global growth projected to rise to 3.6% in 2017 and 3.7% in 2018

"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," said the IMF on Tuesday in its report titled "World Economic Outlook, October 2017."

Key quotes:

• Broad-based upward revisions in the euro area, Japan, emerging Asia, emerging Europe, and Russia more than offset downward revisions for the United States and the United Kingdom.
• Short-term risks are broadly balanced, medium-term risks are still tilted to the downside.
• Notable pickups in investment, trade, and industrial production, coupled with stronger business and consumer confidence, are supporting the recovery.
• Nominal wage growth in most advanced economies remains markedly lower than it was before the Great Recession of 2008–09. 
• Global temperatures have increased at an unprecedented pace over the past 40 years, and significant further warming could occur, depending on our ability to restrain greenhouse gas emissions.