Global GDP growth to ease in 2019, dragged by emerging markets & China: Oxford Economics

SINGAPORE (Oct 18): Oxford Economics is anticipating a slowdown in global economic growth from this year’s 3.1% to 2.8% in 2019, a forecast that comes in slightly below consensus to reflect its pessimistic views on emerging markets (EM) and in particular, China.

The research firm continues to see a moderate, slightly sharper slowdown in global GDP growth for 2019 on the back of negative effects associated with higher US bond yields and a stronger USD.

In view of the continued US expansion and a scaling-back of the likely adverse impact of US protectionism on the global economy, Oxford has upgraded its near-term growth assessment, in turn leading to upward revisions for forecasted 2019 US GDP growth by 0.2 percentage points to 2.5%.

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