BENGALURU, Oct 31 Reuters Global economic growth will maintain its robust pace next year as major central banks implement a series of interest rate cuts against the backdrop of a strong U.S. economy, according to a Reuters poll of around 500 economists.
Next week39;s hotlycontested U.S. presidential election could limit the growth picture, however, by rewriting the current rules around trade.
Unexpected resilience that led economists to significantly upgrade their 2024 global growth forecasts since the beginning of the year is in large part thanks to the U.S. economy39;s performance.
Inflation has also fallen sharply, with most major central banks now managing price pressures within striking distance or already at their respective targets.
Global growth was expected to average 3.1 this year, a steep upgrade from 2.6 in a January poll, also up from 2.9 in April and steady compared with a poll three months ago.
The world economy39;s rate of expansion is expected to broadly hold up at 3.0 next year, according to a Reuters poll taken Sept. 30 Oct. 30 covering 50 important economies.
While there were widespread fears earlier this year the U.S. economy would run into trouble from the effects of the highest interest rates in more than two decades, its resilience has consistently surprised economists and markets.
I think there39;s still a U.S. outperformance theme certainly versus the euro zone and the UK, said Ross Walker, head of global economics at Natwest Markets,…