Global growth expected to accelerate moderately in 2015

NEW YORK, Dec. 10 (NsNewsWire) — Global economic growth will accelerate moderately next year and some economists predict that the bull market in equities can continue to rally, although at a slower pace.

The global real gross domestic product (GDP) growth is projected to reach 3.7 percent next year, compared with 3.2 percent this year, economists at Bank of America Merrill Lynch said recently here at a year-ahead outlook press conference.

The U.S. GDP growth is forecast to be 3.3 percent in 2015, higher than2.3 percent forecast for 2014, reports Xinhua.

Robust U.S. economic growth continues to outpace the rest of the world, boding well for U.S. employment, wages and housing in 2015, said the economists.

“We think the U.S. will enjoy above-trend growth in the next two years,” said Ethan Harris, co-head of Global Economics Research at Bank of America Merrill Lynch.

“What’s happened in the U.S. is after the 2008, 2009 crisis we really had substantial healing in the economy, with banks normalizing, the housing market normalizing and household balance sheet improving,” said Harris.