Global | Widespread upward revision of growth forecasts in 2018

Growth stabilized at high levels and recent data suggest an uptick in activity at 4Q17. We revised upwards our growth forecasts for 2018 to 3.8% (+0.3pp), driven by an improved outlook and boost from tax reform in the US, a more gradual slowdown in China and the strengthening of domestic demand in the EZ. Central banks continue with a gradual normalization process.

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