Moody's upgrades US GDP forecast to 2.7% for 2018

International credit rating agency, Moody's Investors Service today revised its global growth forecasts for 2018 and 2019, incorporating stronger than expected economic data and reflecting the likely pick up tied to additional US fiscal stimulus.

Key highlights:

   •  Raises its projections of US real GDP growth to 2.7% in 2018 and 2.3% in 2019, from a prior forecast of 2.3% and 2.1%, respectively
   •  G20 economies to collectively grow 3.4% in 2018 and 3.2% in 2019, up from prior forecasts of 3.2% and 3.1%, respectively
   •  The euro area is exhibiting the best economic performance since the 2012 sovereign debt crisis
   •  Stronger inflationary pressures will lead to a steady convergence of the monetary policy outlooks of global central banks over the next two to three years