Global growth seems to be on a roll. In fact, the last two consecutive quarters have seen the best performance since 2010. The rate of expansion has been revised up almost everywhere, particularly in the US, and Europe. Exceptions are in the Middle East, Africa and the UK. 2017 was about acceleration, despite numerous policy nudges. Now, global trade is levelling off to a new trend characterized by a recovery of prices and an improvement in terms of volume. Still, challenges – from elections through protectionism and monetary policy to cost pressures due to the rise inn input prices – may play a big role in 2018.​