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It
was the first time in nearly five years they have upped their
growth and inflation outlooks over a two-year horizon as 2017
gets underway and as investors prepare for U.S. President-elect
Donald Trump entering the White House.
The British economy appears to be in ruder health than had been
anticipated expected following the country's decision in June to
leave the European Union, while Japan, Germany and Spain are
also looking brighter, HSBC said.
The bank now sees the global economy expanding at a 2.5 percent
pace this year compared its with 2.3 percent forecast in
September, and 2.6 percent next year, up from September's 2.5
percent.
Global inflation looks set to be 3.0 percent this year and 2.7
percent next year, compared with their previous forecasts of 2.7
percent and 2.5 percent, respectively, the bank said.
"All of the above help explain why we can offer a rare treat:
for the first time since early 2012, we are increasing our
forecasts for both global growth and inflation for the next two
years," the bank's team of economists led by Janet Henry, chief
global economist, said in a note.
"Unfortunately, it is still a world where global growth is
likely to hover around the mediocre growth rates of the past few
years."
Among the most notable changes to the growth forecasts: U.S.
economy next year 2.7 percent versus 2.2 percent; UK growth this
year 1.2 percent vs 0.7 percent; Japan 1.2 percent this year vs
0.9 percent.
(Reporting by Jamie McGeever; Editing by Jeremy Gaunt)
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