The Macro Report – Trump, Johnson cloud outlook

Putnam
By October 4, 2019 10:45

The Macro Report – Trump, Johnson cloud outlook

Global growth continues to cool under the weight of the ongoing trade dispute between the United States and China. Our central scenario is for growth to muddle along with risks pointed to the downside. Worries about a potential recession in the United States have increased in recent weeks because of the trade rift, weaker growth in Asia and Europe, and movements in the Treasury bond market. We believe the probability of a recession is a little below one-third. While manufacturing activity is slowing, the U.S. economy is continuing to add jobs, but at a more modest pace. 

Putnam
By October 4, 2019 10:45

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