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Global Economics Monthly Review

August 2019


Global outlook: 


  • Slowing economic growth around the world in the second quarter of the year, mainly due to the weakness of manufacturing sector activity and international trade, and hence an emphasis on slowing in open economies with an affinity for industrial exports.
  • The downside risks to the growth forecast increased recently. If one or more of the risks materialize, volatility in the financial markets, which is also high, may intensify.
  • Inflation declined slightly in June, but is not expected to moderate substantially later on.
  • The trend of cutting interest rates by many central banks around the world is continuing.  In our opinion, global policies in the short-term will be expansionary, and call for monetary easing, but not to a great extent.
  • Continued expansionary monetary policy and estimations for moderation in the rates of inflation and growth represent factors that support a continued moderate yield environment in the coming months.



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