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Global Economic Outlook 2020: Stagnating Growth amid an Uncertain Outlook
November 2019 | Research Report
Overall, we have arrived in a world of stagnating growth. While no widespread global recession has occurred in the last decade, global growth has now dropped below its long-term trend of around 2.7 percent. The fact that global GDP growth has not declined even more in recent years is mainly due to solid consumer spending and strong labor markets in most large economies around the world. In this edition of the Global Economic Outlook, we’ve included regional sections for the US, Asia, and Europe that describe the underlying forces that will shape growth in the short and medium term.