Growth is expected to accelerate to 2.7% in 2017 and to 3.1% in 2018, supported by consumption growth of 1.6% in both years, two-digit growth in gross fixed capital formation and export growth of around 4% in 2017, rising to almost 5% in 2018. 11 / 23  BIS central bankers' speeches  What about the longer-term economic outlook?
But, when it is used imprudently and in excess, the result can be disaster.” The question then naturally arises: How much is “just right”, to say it in the words of Goldilocks? Cecchetti, Mohanty and Zampolli 4 come up with concrete numbers. They find that when household debt goes beyond 85% of GDP, it becomes a drag on growth.