Trésor-Economics No. 243 - World economic outlook in autumn 2019: slowdown and uncertainty

After falling to 3.6% in 2018, global growth is projected to decline sharply in 2019 to 3.1%, before posting a slight upturn in 2020 to 3.3%, driven by stronger activity in many emerging countries. In the major advanced countries, growth is expected to weaken, in the wake of the United States reporting slowing momentum. The risks have increased around this scenario: worsening protectionism, higher likelihood of a no-deal Brexit, and uncertainties about the direction of macroeconomic policies.