The global economy slowed in 2019 and is now growing at below trend. This is mainly due to the slowdown in capital spending as the US-China trade war introduced significant uncertainty to business decision-making. It was also driven by the lagged effects from tighter financial conditions in 2018.

What we expect to see in 2020

  • The US economy will continue to do well, growing at close to trend
  • Emerging economies will do slightly better than the developed world
  • Europe and Japan should expect economic growth to recover 

Download our Economic Outlook 2020 report PDF today to gain insights into the upcoming developments and trends we see regarding the global economy, monetary policy and markets around the world.


Download the Economic Outlook 2020 report

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