Business sentiment of manufacturing firms has been on an improving trend on a global basis, and the world trade volume has been recovering. In this situation, overseas economies have continued to grow at a moderate pace on the whole. In terms of the outlook, overseas economies are expected to continue growing at a moderate pace.
According to the World Economic Outlook, released in October 2017 by the International Monetary Fund, the global growth rate is projected to be 3.6 percent in 2017 and 3.7 percent in 2018. Looking at developments by major region, the U.S. economy has continued to recover firmly, mainly in household spending, owing to a steady improvement in the employment and income situation.