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
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