IMF marginally upgraded global GDP growth forecast to 3.6% for 2017 – Deutsche Bank

Analysts at Deutsche Bank, note that the IMF in its latest World Economic Outlook report has marginally upgraded its global GDP growth forecast by 0.1ppt to 3.6% for 2017 and 3.7% for 2018, which is slightly higher than Bloomberg’s consensus of 3.4% and 3.5% respectively.

Key Quotes

“The upgrade is mainly driven by improved outlook in the US, Euro area, Japan and China (UK has been left unchanged). For the US (2017e: 2.2%; 2018e: 2.3%), the IMF noted very supportive financial conditions and high business / consumer confidence are buoying the nation’s prospects, but its base case does not take into account of any potential benefits from President Trump’s proposed tax reforms.”