Ceramics and glass-Materials for diverse industries A 2016 industry profile and manufacturing forecast

The International Monetary Found (IMF) usually publishes its World Economic Outlook twice a year representing a survey of staff economists analyses of global economic developments. The outlook report published in October 2016 indicates subpar global growth of 31% in 2016 with a slight increase of 34% predicted for 2017. Taken as a whole the world economy has moved sideways IMF chief economist and economic counsellor Maurice Obstfeld says in the report. We have slightly marked down 2016 growth prospects for advanced economies whereas mark-ing up those in the rest of the world. Stagnation in the U.S. market, uncertainty following the United Kingdom's exit from the European Union, and slow growth in Japan's leading economy are all contributing to this subpar market growth. But despite the lacklus-ter performance of those advanced markets emerging markets are expected to pick up some of the worldwide slack with an overall 46% growth rate.China's economy is expected to expand 66% in 2016 and 62% in 2017 showing signs of slowing as the country shifts away from investment and industry and instead moves toward more sustainable reliance on consumption and services according to the IMF. In addition India is expected to continue to grow at one of the fastest paces for major world economies with more mixed economic predictions in Africa and Latin America