Aberdeen's Mackenzie: 'Trump has fogged up our crystal ball'

Craig Mackenzie, senior investment strategist at Aberdeen Asset Management, on why 2017 offers a slightly hotter dish than 2016, albeit with an extra twist of political uncertainty.

Donald Trump has fogged up our crystal ball. We had been expecting global GDP growth to increase to around 3.5% in 2017, from 3% this year. This was driven by a US economy that has continued its consumer-driven expansion and by Europe's walking-pace recovery (with a weaker UK, riven by Brexit uncertainty). Meanwhile, emerging markets continue to accelerate, fuelled by more stimulus measures in China and ongoing recoveries from recessions in Brazil and Russia. Trumped How will Trump change this? Fiscal stimulus is likely in the form of big tax cuts and major infrastructure spendin...