By Lucy O’Carroll and Paul Diggle, Investment Solutions, Aberdeen
The global economic upturn has been slightly delayed by a weaker-than-expected first quarter, but has not been derailed. We have revised our 2015 global growth forecast down to 3.3 per cent from 3.4 per cent last month. While the adjustment is modest, it means that we no longer expect growth this year to average a faster pace than 2014 (which was also 3.3 per cent). However, this signals a slight delay to the upturn — with GDP growth in 2016 still expected to come in at 3.9 per cent — rather than a more fundamental change of view.