In a survey by the Institute for Economic Research experts expect a slower growth – in world trade, consumption and investment. This is especially true of the USA.
Heavier outlook for the global economy: The ifo barometer fell to minus 13.1 points from minus 2.2 points in the first quarter. This is what the Munich Institute for Economic Research reported on its quarterly survey of nearly 1300 experts from 122 countries. „The global economy is increasingly weakening,“ said Ifo President Clemens Fuest.
It was the fourth consecutive decline in the indicator, making the global economic climate worse than it has in more than seven years. Both the situation and the prospects were therefore assessed as considerably more pessimistic. The experts expect weaker growth in private consumption, investment and world trade.
The economic climate deteriorated, especially in the industrialized countries. „In particular, the US stood out with a drop in expectations and the assessment of the situation,“ said Fuest. „But for the European Union, the experts revised their estimates down significantly.“
In the emerging and developing economies, on the other hand, the economic climate remained largely unchanged, after having declined sharply in the two quarters before. It cooled significantly in the Middle East and North Africa.
According to the International Monetary Fund (IMF), global gross domestic product is expected to increase by only 3.5 percent this year and 3.6 percent by 2020, as the IMF predicted in its „World Economic Outlook“ in January. In October, he had predicted 3.7 percent for both years.
