After exceeding expectations in 2017, the global economy is projected to carry forward its current momentum to generate a three-percent growth rate through 2018, the Conference Board said in its latest Global Economic Outlook 2018.
Tropical climates in the depths of Asia, Africa or South America might seem a world away from the checkout queue in your average Scottish supermarket or corner shop. But if your basket contains chocolate, coffee, bananas or rice, you can almost guarantee that what you eat comes from far warmer places thousands of miles away.
The global economy will expand faster next year while still facing challenges, such as low productivity, high income inequality and low inflation, a senior official with the International Monetary Fund (IMF) said.
Last week, this blog reported the continuing good news that global economic activity has embarked on the strongest and most synchronized period of expansion since 2010. Global growth is running well above the long term trend, especially in the advanced economies.