Key market data, such as purchasing managers’ indices, suggest stronger growth for the global economy over the next two years. For the first time since 2011, market researchers anticipate a slight rise in Europe’s economic output. The USA should see its economic output rise relative to the past year. China and other emerging countries will maintain their economic expansion in 2014, broadly matching the growth rates of 2013. In our scenario, we assume that the global economy will expand slightly in 2014. Stronger growth should then follow in 2015.