Huw Pill, chief European economist for Goldman Sachs Research, sees the Euro area’s economy growing at close to 2% this year. That’s up from around the 1.5% growth projected at the start of 2017. He cites two broad reasons for cautious optimism: the pick-up in global trade and manufacturing, and the revival of animal spirits within the region.
Growth in China is likely to slow to the low 6% range in the second half of the year, according to Andrew Tilton, who sees policymakers taking advantage of strong momentum from the first half to broach risk mitigation and reform in the country’s closely watched financial sector.
Shale continues to complicate rebalancing of the global oil market, but Goldman Sachs’ Head of Commodities Research Jeff Currie sees the balance of risks tilted to the upside for the second half of 2017.