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The following article was originally published by Michael Snyder at The Economic Collapse Blog. (Used by permission)
The IMF Issues A Worldwide Warning: “The Risk Of A Sharper Decline In Global Growth Has Certainly Increased”
By Michael Snyder in Jan, 2019
IMF Managing Director Christine Lagarde made headlines all over the globe this week when she declared that “the risk of a sharper decline in global growth has certainly increased”. As you will see below, signs of economic trouble are popping up all over the planet, and pretty much just about everyone is now acknowledging that the global economy is slowing down. But does that mean that we are headed for a global recession in 2019? Well, things certainly do not look good right now, but there is still time to turn things around. But in order to turn things in a more positive direction, something has got to be done to stop the downward momentum that seems to be accelerating in the early portion of this year.
On Monday, the IMF slashed their forecast for global economic growth for the second time in three months…
The International Monetary Fund (IMF) revised down its estimates for global growth on Monday, warning that the expansion seen in recent years is losing momentum.
The Fund now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020. These are 0.2 and 0.1 percentage points below its last forecasts in October — making it the second downturn revision in three months.
But at least they are still projecting global economic growth this year, and many would argue that “a 3.5 percent growth rate” is wildly optimistic.
At this point, it seems like just about everywhere you look economic confidence is declining. For example, one recent survey found that the percentage of global CEOs that believe that the world economy will slow down over the next year has jumped dramatically…
Rising populism, policy uncertainty and trade conflicts have led to a sharp drop in confidence among global CEOs.
The share of chief executives who think the global economy will slow over the next year has jumped to nearly 30% from 5% in 2018, according to a survey of 1,300 top business leaders by audit giant PwC.
At least publicly, corporate CEOs usually want to put a positive spin on the future, and so it is absolutely astounding that this number has risen so much in a single year.
But there is no denying what is happening around the world right now. Over in Asia, China just announced that 2018 was the worst year for economic growth that country had seen in 28 years.
In addition, Chinese corporate bond defaults soared to an all-time record high in 2018, and it looks like 2019 could easily be even worse.
On the other side of the globe, Europe’s largest economy actually contracted during the third quarter…
In Europe, its largest economic powerhouse Germany has been dented after it was announced the German economy had contracted in the third quarter.
This left Berlin skirting on the fringe of recession territory with economists fearing the most powerful economy in Europe was on the brink of financial chaos.
Europe faces great uncertainty during the months ahead. There is a very real possibility that we could have a “no deal Brexit”, Italy is teetering on the brink of complete and total financial ruin, and the entire European banking system could begin to collapse at any time.
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