Global trade, normally a catalyst for the global economy, remains weak. Merchandise trade growth over the past five years has been the slowest since the early 1980s, and protectionist measures in G20 countries and elsewhere are on the rise. Economies are grappling with the spillovers from unconventional monetary policies and heightened political uncertainty has also been making households and businesses more cautious.
3  4  ii)  The current expansion is longer, but also weaker than previous expansions At 28 quarters, the current economic expansion is the second longest in the past 40 years. Annual real GDP growth has averaged 2½ percent during the expansion, making it the weakest expansion during that time.