As widely reported, the most recent worldwide economic forecast 2019 is not as rosy as earlier predictions.
Earlier this year, Sarah Feldman stated for Statista. “With Americans heading into 2019, by and large, they feel optimistic about what’s to come. According to a new poll by Survey Monkey, 6,000 U.S. adults were surveyed on their personal and political prospects. Three-quarters reported being more hopeful than fearful about their 2019 personal life.”
Although the U.S. economy remains strong, the future looks more uncertain. In other countries, the outlook appears less positive. For another perspective, click here to see this earlier report.
OECD Report: Worldwide Economic Forecast 2019 Not as Rosy
In particular, consider these opening remarks from OECD’s latest report:
“Last year, the OECD warned about how trade and policy uncertainties could significantly damage the world economy. Thereby further contributing to the growing divide between people. A year later, global momentum weakened markedly. In addition, and growth will remain subpar as trade tensions persist. As a result, trade and investment slowed sharply, especially in Europe and Asia. Furthermore, business and consumer confidence falters further. With manufacturing production contracting.”
“In response, financial conditions eased as central banks moved to more accommodating monetary stances. While fiscal policy provides stimulus in a handful of countries. At the same time, low unemployment and a slight pick-up in wages in the major economies continue to support household incomes and consumption. However, overall, trade tensions take a toll. Thus, we project global growth to slow to only 3.2% this year. Before edging up to 3.4% in 2020, well below the growth rates seen over the past three decades. Or even in 2017-18.”
Report Summary
Click the image to access the 2019 report highlights.
Video Report Overview
Watch this video overview of the report from OECD.