Stephen Koukoulas, Managing Director of Market Economics has predicted on The Business Spectator that global growth in 2014 could hit levels not seen since before the GFC. He quotes PMI data across China, Europe and the US, which have all remained above the point of positive growth in the last few months. This along with easy global monetary policy and the return of corporate profitability are driving strength in business confidence and future investment. This will continue to put a floor on commodity prices for Australia, if Chinese growth is maintained around 8%. Despite risks including the US debt ceiling, Koukoulas believes there are many reasons to be positive. (VIEW LINK)
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