Global economic output has also shown stable growth in the post-recovery climate. At constant 2011 prices, which remove inflation from growth figures, GDP has consistently registered year-on-year expansion of approximately 3.5% since 2011. Growth for 2017 was estimated at 3.6%, with a similar increase of 3.7% forecast for 2018.
Data for consumer expenditure have been slightly more erratic than those for GDP over the same period, as factors such as disposable income, interest rates, credit availability and confidence in the future weigh on households. Private consumption rose 4.5% globally in 2011, but stood at 2.7% in 2015. WARC estimates growth...