Why the Worst May Already Be Over for the Global Economy
- The world economy may be the rockiest it’s been since the financial crisis, yet there are reasons to expect the current slowdown will prove short-lived.
- Bloomberg Economics, Deutsche Bank AG and Morgan Stanley are among those whose economists reckon the slide will bottom out in this quarter or next before acceleration later in the year.
- The International Monetary Fund is still predicting global growth of 3.5% in 2019, a pretty good clip for this stage of the expansion.
- Deutsche Bank strategist Alan Ruskin also argues there is a reason to be more upbeat than the headlines suggest. China’s economy, for example, is five times its size in 2000, meaning a 6% growth rate now is equivalent to 30% back then.