When forecasters get it wrong - always

ECONOMISTS were mostly incorrect in their predictions for 2017. That was par for the course.

To borrow from Yogi Berra, it is tough to make predictions, especially about the future. But 2017 was particularly difficult. On many of the biggest forecasts - global growth, inflation, the trajectory of the big powers - the experts got the year wrong.

They thought the global economy would continue to struggle, inflation would stage a comeback, right-wing nationalism would prevent economic revival in Europe and laggards like Japan, Russia and Brazil would remain weak. They expected the United States to be the one relatively bright spot and that American President Donald Trump's promises of tax cuts and protectionism would drive the mighty dollar higher.