Economic Update November 2017
We entered 2017 full of trepidation. Geopolitical risks were taking precedence over economic ones, and a dreaded “Black Swan” event was seemingly a very real prospect. As it turned out, these concerns were in part misplaced or at
least over-stated. Elections in Europe did not follow the populist script of Brexit and the US election; the new US administration has not made any significant missteps on policy; rising protectionism did not bring global trade crashing down; China’s
corporate debt problem did not cause a banking crisis and Brexit has not pushed the UK economy into recession...
Global: IMF Real GDP forecasts. Latest IMF forecasts have 2017 & 2018 to be better but not great. Source: IFM Investors, IMF WEO