The Conference Board Economics Watch® United States View—December 2017

After exceeding expectations in 2017, the global economy is projected to carry forward its current momentum to generate a 3 percent growth rate in 2018. While the growth path of mature markets will remain solid in the short term, potential for much faster growth is limited, and a growth slowdown is likely to set in later in the decade. As some major emerging markets are maturing themselves, especially China, they are unlikely to return to growth trends of the past. The good news is that a larger role for qualitative growth factors—an improvement in labor force skills, digitization, and stronger productivity growth—may help sustain growth and provide better conditions for businesses to thrive over the next decade.