According to analysts at Danske Bank, re-escalation of the trade war between China and the US is weighing on global economic outlook.
Key Quotes
“We have lowered our projections for global growth to 3.2% in 2019 and 3.4% in 2020.”
“A modest recovery is projected on the back of a US-China trade deal in H2 2019 and further stimulus by global central banks.”
“Risks are skewed to the downside from possible failure to strike a US-China trade deal and lack of timely policy action.”
“The risk of recession over the next year is still relatively low given the room for further global policy support.”
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