Output from America, the eurozone, and Asian countries such as Taiwan, Korea and Singapore, comprised 60 per cent of the world’s GDP in 2017

The global economy is set to grow at its fastest rate since 2011, propelled by growth in the US, the eurozone and Asia, but the UK is set to drag back worldwide GDP, according to PWC.

In a report, the accountancy giant said that the world’s GDP will grow by almost 4 per cent in 2018, adding an extra $5 trillion to global output.

Its report adds to the growing consensus among economic forecasters that the global economy is due to show its best growth in seven years next year. That is likely to boost world trade, as consumers will have more money to spend on goods and services.

PWC said that output from America, the eurozone, and Asian countries such as Taiwan, Korea and