Global economic upturn continues - NAB

Alan Oster, Group Chief Economist at NAB, notes that the global economic backdrop is now the best is has been for a number of years as the upturn continues and GDP growth rises to around trend.

Key Quotes

“There are now welcome signs of a broadening in the expansion to include more investment spending and growth in old world sectors such as manufacturing. Market volatility and economic policy uncertainty are both lower as the probability of severe “tail risk” events are marked lower. Labour markets are tightening around big advanced economies but there is still little sign of a pick-up in wage inflation.”