UK Businesses Should be Encouraged By Global Growth Surge

12th January 2018.

While domestic conditions remain somewhat rocky, global growth is soaring. After a stronger than expected 2017, the World Bank now predicts this success to continue into this year.  This will be good news for our Members who have to handle the ever-complicated tug-of-war between imports and exports. With a positive outlook for the year ahead, we must hope it can only get better.

According to a new forecast by the World Bank, global growth is expected to expand by 3.1 percent this year.

It will be the strongest period of growth since before the financial crisis back in 2008.

Bank president Jim Yong Kim warns the upswing will be short term, with living standards and poverty levels at risk.

For the immediate future, the bank sees a reasonably upbeat prospect.

To help the longterm, Mr Kim recommends reforms to improve education and health services and infrastructures – such as roads ports, electricity supplies and telecommunications networks.

A healthier and better-educated workforce is likely to be more productive, insists the Bank and better infrastructure will make it easier for business to be more productive too.

With trade conditions still uncertain as Prime Minister Theresa May struggles to achieve a deal with the EU, it is uplifting for businesses to hear their overseas allies are still prospering. The Credit Protection Association encourages Members to maintain friendly relationships with overseas suppliers and customers, this should make businesses less vulnerable if/when trade regulations are altered after Brexit.

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

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