UK Set For Best Global Growth In Seven Years

19th December 2017.

The global economy is set to grow at its fastest rate since 2011, while Brexit uncertainty is expected to drag the UK back, according to a new report.

In a report conducted by accountancy giant, PWC, it has found that the world’s GDP will grow by almost 4 percent in 2018, adding an extra $5 trillion to global output.

This confirms prior reports that the global economy is soon to boast its best growth in seven years. The growth is likely to boost world trade, as consumers have more money to spend on goods and services.

PWC revealed that output from America, the eurozone, and Asian countries such as Taiwan, Korea and Singapore, comprised 60 percent of the world’s GDP in 2017 and this is expected to rise to almost 70 percent next year.

Barret Kupelian, senior economist at PWC, is pleased that the Global outlook looks so positive but remains wary of domestic performance as Brexit negotiations and our future with the EU remain uncertain.

Nevertheless, Britain’s unemployment rate remains at its lowest since 1975, and PWC predicts it falling to a 40-year low.

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