U.S. Outlook: Global malaise

Scott Anderson
Posted by Scott Anderson
Chief Economist

The global economy continues to be one of the biggest risks for the U.S. economy over the near term.

Graph showing up and down trends in China exports over past several years.As the International Monetary Fund (IMF) annual meetings concluded in Washington, D.C., we received another sobering dose of forecasts from the IMF after years of global growth disappointment.

For a look at some key developments, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Oct. 14.

Key observations:
  • The IMF calls for urgent global government action relying on all policy levers, including accommodative monetary policy, to head off further growth disappointment.
  • Downside risks to the global outlook for 2017 continue to grow from Brexit, the rebalancing of China’s economy, and stagnation in advanced economies.
  • The global drag from Brexit is just beginning, and it could be a prolonged affair.
  • Global trade growth is shrinking as globalization reverses and economic policies turn increasingly inward-looking.

Click here to read my full report.

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