Economic Update - January 2020

Atradius is not only Credit InsurThe January 2020 edition of the Economic Update presents the current economic environment across the globe and the outlook by Atradius Economic Research Economic Update - January 2020 The January 2020 edition of the Economic Update, presenting the current economic environment across the globe and the outlook by Atradius Economic Research. Summary Global – Geopolitical uncertainty and a slowing Chinese economy kept growth subdued in 2019. 2020 is unlikely to bring much relief, as the direction of US trade policy remains unclear. Eurozone – Incoming GDP data continues to point to subdued growth at the end of 2019. This is reaffirmed by sentiment indicators and weak output of the manufacturing industry. Advanced Markets – Policy uncertainty, especially related to trade, continues to cloud the economic outlooks for both the US and UK. Emerging Markets – Growth will strengthen somewhat in 2020, driven by the economic recovery in Latin America. However, the US-China trade war continues to exert a drag on activity. Credit and insolvencies – Insolvencies are forecast to rise 2.6% in 2020, following an expected 3% increase in 2019. Table: Macroeconomic indicators for key markets