Deutsche Bank sees pick-up in global growth only in 2018

Singapore

ALTHOUGH world economic growth is expected to be lacklustre in 2017 largely because of uncertainties over US economic policy under the incoming administration, Deutsche Bank believes 2018 should see a significant pick-up in global activity, led by the United States.

"We think 2017 will see a recovery in commodity prices that will benefit emerging markets like Brazil and Russia, and in Asia countries like Indonesia and Malaysia but the major story will only be in 2018 when the impact of increased US spending will be felt," said Taimur Baig, Deutsche's chief economist for Asia, at a press briefing on Monday.