FocusEconomics has presented its forecast for the 2019 GDP growth, noting that global economic development will be weaker mainly due to less accommodative financial conditions worldwide and as some of the world’s largest economies approach the tail-end of their current economic cycles. Yet the world’s average growth is expected to be at 3.1%.
Risks to the global economic outlook continue to be skewed to the downside. Despite the recent truce, both political and trade tensions between China and the United States remain elevated, fueling economic uncertainty.
India and China are likely to be on top of the major economies’ list with 7.4% and 6.3% GDP growth, accordingly. Germany and France are likely to grow by 1.6%, while Russia and the UK by 1.5%, and Italy by 0.8%.