World economy

摘要

Although uncertainties have clearly increased this year and pose downside risks to growth, the latest batch of timely activity indicators suggests that in the shorter term the global economy is resilient to these worries. Given this, we see global GDP growing by 3.1% this year and 2.9% in 2019, just 0.1pp lower than our forecast three months ago and similar to last year's 3% increase.