Based on a tracking model by the firm
The note says that Q1 data signals a divergence between developed and emerging economies - with the former set for a weak quarter while the latter looks set for a rebound from a comparatively weak Q4 2017 growth figures.
The firm argues that global GDP growth moderation therefore "looks contained", with GDP tracking at 4.1% y/y. They attribute the slower start to the year to temporary negative effects such as poor weather and volatility linked to China's week-long Lunar New Year holiday.
Going forward, they are expecting a rebound in Q2 growth, especially in the US - while continuing to forecast global real GDP growth of 4.1% this year.
In comparison to the IMF, Goldman seems to be expecting rather solid growth figures. The IMF is only forecasting global growth at 3.9% in its latest forecasts here, having bumped up US growth figures forecast to 2.9% this year.
