With coronavirus infections rising in Australia, India, Spain, and Brazil and renewed weakness in the US economic data, economists cut 2020’s economic prospects in the July 3-29 polls. The global economy is now expected to contract by 4% this year or by about $3.4 trillion compared to the previous estimate of a 3.7% contraction made in June. The latest downgrade is the sixth consecutive from 3.1% growth forecast in January, according to Reuters. Key points (Source: Reuters) Of all of the major economies, the proportion of forecasters who said the U.S. outlook had improved in the last month was, by far, the smallest. For the eurozone, the outlook for next year onward got a slight boost after the European Union leaders agreed on a stimulus package of 750 billion euros. The world economy is expected to grow 5.3% next year, slightly less than the 5.4% predicted last month. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ledger suffered a data breach in June, reassures users that their digital assets are safe FX Street 3 years With coronavirus infections rising in Australia, India, Spain, and Brazil and renewed weakness in the US economic data, economists cut 2020's economic prospects in the July 3-29 polls. The global economy is now expected to contract by 4% this year or by about $3.4 trillion compared to the previous estimate of a 3.7% contraction made in June. The latest downgrade is the sixth consecutive from 3.1% growth forecast in January, according to Reuters. Key points (Source: Reuters) Of all of the major economies, the proportion of forecasters who said the U.S. outlook had improved in the last month was, by… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
