Global economy back to 'normal' after 2017 upside surprises

London

THE global economy found its post-crisis footing in 2017, with most major developing economies surprising on the upside.

Comparing 2017 predictions made a year ago versus the likely outturn - based on the latest forecasts in Bloomberg's monthly survey - shows that the pessimists called this one wrong. One of the biggest surprises was the euro area, set for its strongest expansion in a decade. At 2.3 per cent, the expected growth is far above the 1.4 per cent pace predicted at the start of the year.