This year’s growth projections for the global economy appear to be firmly anchored. However, it mostly reflects better-than-expected economic dynamics in H2; looking forward, risks are clearly skewed to the downside. Escalating trade tensions between the U.S. and other major economies, especially China, represent the main destabilizing factor on the global scene. Moreover, despite being positive for some oil-exporting economies, higher oil prices are fueling inflationary pressures worldwide, threatening to erode consumer’s purchasing power.
Source: Focus Economics
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