Global Economic Growth Projected to be Robust – Dow Futures Up
Jan, 24th 14:45
The global economy is expected to grow at a robust pace this year and reach an altitude not seen since 2010, as momentum builds in developed economies and inflation revives, according to multiple polls conducted by Reuters. The polls reached out to over 500 economists.
The latest Reuters polls taken this month, covering more than 45 countries, not only underscored optimism on growth, but also showed inflation forecasts were either upgraded or left unchanged in nearly 70 percent of those economies.
The global economy is predicted to grow 3.7 percent this year, the fastest since the 4.3 percent rate of growth in 2010.
The U.S. economy is predicted to grow at its fastest pace in three years in 2018, fueled by the biggest tax overhaul since the 1980s, but economists said the expected boost will be short-lived and will keep the Federal Reserve on track with its current guidance of three interest rate increases this year.
On the technical charts, DJ30 is trading in the positive zone. The RSI is at 84.83 and the MACD is above the signal line. The market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day).
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