China is booming again, and Latin America is through the worst
by Ambrose Evans-Pritchard
Global economic growth is accelerating sharply after months in the doldrums, confounding predictions of a worldwide recession following Britain’s Brexit vote.
The monthly ‘nowcast’ gauge of global activity assembled by Fulcrum Asset Management has picked up momentum dramatically over recent weeks, signalling robust world growth of 4pc growth over the second half of the year – even if there is a hiccup in the UK. This is up from 3.4pc in the last quarter and 2.4pc in late 2015.
Fulcrum said there are glimmers of hope that the world economy is at last reaching “escape velocity” after being trapped in deflationary malaise for much of the last seven years, coping with excess debt and slowly nursing banks back to health.