The week produced fresh economic data pointing to an economic slowdown.
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The IMF revised its growth forecasts for 2019 lower, primarily because of softer business conditions in the second half of 2018, US-China trade tensions and a sharper fall in China’s growth which is now seen rising 6.2% this year. Global growth is now seen rising 3.5% in 2019, down 0.2 points, and +3.6% in 2020 (down 0.1). Eurozone growth forecasts have been confirmed at +1.7% in 2020 but revised down to 1.6% this year due to the slowdown in Germany and Italy.
