Outlook 2015
November 18, 2014
Despite sluggish growth in the global economy over the last few years, Chief Economist Richard Hoey expects sustained expansion in 2015 with a good chance that the pace of growth could run somewhat higher.
“Our outlook is for a long global and U.S. economic expansion. The global economy has been expanding over the last half-decade. For the past few years, however, it has only grown at roughly a trend growth rate. As a result, consumer price inflation has been moderate in most developed countries and too low in others. This has allowed many central banks to remain easy.”