The global economy has been weakening considerably in the last couple of years, especially the major countries, most likely due to the US-China trade war. But, the monetary tightening of the previous few years has also had an impact on the economic weakness and IMF is now revising GDP growth lower.
- 2019 global GDP growth now seen at 2.9% from 3.0% previously
- 2020 global GDP growth unchanged at 3.3%
- 2021 global GDP growth now at 3.4% from 3.6%
- 2020 Eurozone GDP seen at 1.3% vs 1.4% in October due to manufacturing contraction in Germany
- Boosts China 2020 GDP to 6.0% from 5.8% on trade deal
- Cuts 2020 US GDP to 2.0% from 2.1%
- UK forecast unchanged at 1.4%
Last year was revised a tick lower to 2.9%, while 2020 remains unchanged at 3.3%. But, 2021 is revised two points lower to 3.4% from 3.6% in October. Eurozone growth is revised a tick lower as well, due to the cramp in manufacturing. Although, if Donald Trump starts a trade war with the EU this year, things will go from bad to worse I assume, which will force the IMF top revise growth lower again during the year.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
Subscribe
Login
0 Comments
Oldest