Global growth to weaken in 2019

Financial Mirror (Cyprus) - - MARKETS -

As po­lit­i­cal and diplo­matic tur­moil swept the world stage in the last half of 2018, eco­nomic prospects for 2019 took a hit, ac­cord­ing to new es­ti­mates by J.P. Mor­gan. China ex­pe­ri­enced a 6.6% growth in real GDP in 2018, while in 2019 J.P. Mor­gan es­ti­mates the coun­try will come close to a 6.2% growth in real GDP. The United States ex­pe­ri­enced around a 3% growth in real GDP in 2018. Head­ing into 2019, the U.S. can ex­pect closer to a 2.4% real GDP growth rate.

These re­duced growth rates come af­ter the trade war be­tween the U.S. and China hit a crescendo to­wards the end of the year. At the G20 Sum­mit, there were prom­ises from both sides to ease ten­sions, though those as­sur­ances have yet to trans­late into sub­stan­tial ac­tion. In the lead up to the hol­i­days, the stock mar­ket tum­bled los­ing all its gains since Septem­ber 2017. The global growth out­look for the world and the Euro area re­main rel­a­tively flat with lit­tle to no growth in real GDP pre­dicted. (Source: Statista)

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.