As we go dark throughout our platforms for Thanksgiving Week-End here in the United States, we hereby present the Global Economic Outlook Courtesy of the team at Goldman Sachs:
| Global Economic Outlook 2020: A Break in the Clouds |
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The global slowdown that began in early 2018 is nearing an end, according to Goldman Sachs’ chief economist Jan Hatzius, who forecasts 3.4% global GDP growth in 2020. The modest increase from 2019’s expected figure of 3.1% should be driven by easier financial conditions, a US-China trade détente, and reduced Brexit uncertainty. While many market participants continue to worry about recession, particularly with the US about to notch another year in its longest expansion on record, Hatzius views these fears as premature. The strong financial position of households and businesses across most advanced economies should keep recession risk at bay—amounting to just a 20% chance of a downturn for the US economy in the next 12 months vs. a consensus view of as much as 33%, according to Goldman Sachs Research.
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Happy Thanksgiving and Best Wishes to all.
