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#Market Strategy — 29.03.2019

Economic Outlook Update

Guy Ertz

Global Economic Slowdown

BNP Paribas Wealth Management


•The global economy lost steam at the end of 2018; we expect a further deceleration in GDP growth in 2019 and 2020.

•Recent expectations of slower growth and weak inflation have prompted major central banks to adopt dovish measures to support their economies.

•In a context of political and global trade uncertainty, economic players prefer to postpone investment plans as long as consumption is timid.

•The US and eurozone slowdown is confirmed, Japan is flirting with recession and UK’s economy is dependent on Brexit conclusions.

•China’s rebound is key for emerging markets and for curbing the ongoing global trade slowdown.

Guy Ertz

Chief Investment Advisor
BNP Paribas Wealth Management