World-Wide Sombre Mood 🌎

World-Wide Sombre Mood

We’re in for a sluggish second half of 2019, and an even worse 2020 according to the World Bank. “We’re not pressing panic buttons”, insists its chief economist, despite forecasting the slowest growth since 2008, at 2.6%. Don’t press that panic button!

Apparently, everyone is affected. The World Bank didn’t single out the US or China, seeing investment activity cool across the board. Lead author Franziska Ohnsange mentioned that “broad-based disappointment” would be rife in both developed and developing countries.

The Bank’s day job is to issue international loans, fighting poverty, keeping trade moving, and keeping reconstruction going. They may not be typical investors like us, but they’re well placed to deliver a verdict on the global business mood.

Trade tensions are, unsurprisingly, leading their argument for a worsening big picture. The uncertain impacts of tariffs on investments are hindering confidence. World Bank President David Mulpass called this “worrisome because subdued investment weakens the foundations for sustained growth.”

The World Bank collects its insights by probing each country separately. Reflecting on the international growth scene back in January, the image the Bank portrayed wasn’t exactly bright either. The Bank downgraded estimates for over half the countries it covered. The market may meet this latest influx of opinion with more investing trepidation. It remains to be seen.

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