Almost a decade after the world economy was hit by financial crisis, the global recovery has finally become “broad-based and stable”, according to a tracking index by the Brookings Institution and the Financial Times.
The findings, released ahead of this week’s annual meetings of the International Monetary Fund and the World Bank, will reinforce optimism that most economies around the world are showing signs of a consistent, but far from stellar, recovery. But fears remain that political uncertainty could yet throw countries off course.
The Brookings-FT Tiger index — tracking indices for the global economy — suggests growth has picked up sharply in both advanced economies and emerging markets in recent months. The index, which covers all major advanced and developing economies, compares many separate indicators of real activity, financial markets and investor confidence with their historical averages for the global economy and for each country separately.