Economic Snapshot for the Major Economies May 2917
May 31, 2017 Looming uncertainties threaten global economic recovery Global economic activity firmed up at the outset of the year according to comprehensive data for Q1. Global GDP rose 2.9% annually (Q4 2016: +2.8% year-on-year), which was a notch above the 2.8% expansion that our panel of analysts had projected last month . On top of the acceleration in China reported last month, growth in the United States was revised upward on stronger private consumption and investment. The economic story remained largely intact in the Euro area, with GDP benefiting from a declining unemployment rate and a robust external sector. In Japan , a competitive yen and healthy investment buttressed economic growth. On the downside, economic dynamics in the United Kingdom started to feel the pinch of high inflation and subdued wage growth. Nevertheless, uncertainty is looming on the horizon and some events are threatening the global economic r...