Deutsche Bank analysts note that the IMF updated its World Economic Outlook and cut its forecast for global growth by -0.1pp for both 2019 and 2020, to 3.2% and 3.5%, respectively.
Key Quotes
“The update described growth as “sluggish” and “subdued” and also noted that risks are tilted to the downside, emphasizing trade tension uncertainties. Nevertheless, the forecast for the US rose +0.3pp to 2.6% for this year, while Europe’s stayed steady at 1.3%.”
“The forecast for China was revised down -0.1pp, to 6.2%, while India’s was trimmed -0.3pp to 7.0%. The IMF also revised down its forecast for 2019’s growth in world trade volumes by 1pp, to 2.5%.”
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