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TORONTO, Oct. 5, 2017 /PRNewswire/ - Global growth is strengthening as policy stimulus in some advanced economies is unwound. This is a confirmation of the narrative building throughout the year, in which the sources of growth have been broadening across and within countries.
"For the first time since the Global Financial Crisis (GFC), all 45 industrialised OECD countries are set to expand," said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. "Given the breadth of growth geographically and its increasing diversity within countries, the foundation remains for solid global performance through at least 2018, though geopolitical risks continue to dominate."
There are now tangible signs that firms have joined households in contributing to the recovery in most countries, and capital spending in the more advanced OECD countries is expanding at a pace not seen in over three years. This is a welcome development given the general weakness of business investment in companies globally since the GFC. This turnaround in investment appears to reflect a number of powerful factors, such as a rise in confidence as ISM indicators are at multi-year records, the still low cost of capital, and the general increase in trading partner activity.
Highlights of Scotiabank's Global Outlook include:
Read Scotiabank's Global Outlook online at: http://www.gbm.scotiabank.com/scpt/gbm/scotiaeconomics63/globaloutlook.pdf
Scotiabank provides clients with in-depth research into the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary, fiscal and public policy issues.
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