In the near term, the economy will probably go through a rough patch during which a number of economic data releases may be downbeat. Home sales seem likely to weaken further given the difficulties faced by some potential buyers in obtaining a mortgage and, perhaps, some concerns on their part about buying into a falling market.
World economic activity seems to be gaining steam at the beginning of 2018 and a number of timely indicators point to further strength in coming months. In addition, its generalization among different countries, from both advanced and emerging economies, continues. Not surprisingly, then, projections for global growth for this year and the next have been revised upwards.