They see some upside risks as trade risks cool
- Cuts 2019 to 2.4% from 2.6% (lowest since crisis)
- Cuts 2020 to 2.5% from 2.7%
- Cuts 2020 emerging markets forecast to 4.1% from 4.6%
- Forecasts 2020 trade growth at 1.9% vs 1.4% in 2019
- Says growth in less developed regions far below levels needed to meet poverty-reduction goals
In a deeper breakdown, they boosted the 2020 US growth forecast while cutting China and Europe. On the whole, this isn’t great news for the global economy but it’s nothing surprising.