Q3 2017 Global Economic Overview
World economic growth became even more broad-based in the quarter as many lagging non-G7 countries experienced some growth spurts. Despite monetary tightening in Canada and the U.S., other major central banks continued to run loose monetary policies which encouraged further growth. Purchasing manager indices in the G7 are at six-year highs, promising continued near-term growth. However, some countries outside Europe, such as the U.S., are most likely in the later portion of the economic expansion cycle.