The growth forecasts for EU and Japan, as well as for Emerging and Developing Asia (which includes India and China) were downgraded. An offshoot of the growing relative strength of the US economy has been the parallel strength in the US dollar, based on the US dollar Currency Index as of 23 February 2015.
•  The global economy is expected to strengthen over the next two years, rising from 2.9 per cent growth in 2013 to 3.4 per cent in 2014 and 3.7 per cent in 2015. •  The United States will lead the way, helped by diminishing fiscal drag, accommodative monetary policy and stronger household balance sheets.