According to the International Monetary Fund, the global economy will continue to recover, albeit at a somewhat slower pace than at the beginning of the year. The major industrial countries remain on a moderate growth path, even though growth in the United States and Japan slowed down somewhat in the in the final quarter of 2015 and the first quarter of 2016.
Nonetheless, the underlying trend is still pointing upwards and developments in the labour markets are not pointing to an economic slowdown either. In the case of the emerging market economies there are two divergent developments. In some countries, growth is still robust, but not quite as strong as a few years ago.