Pursuits
Credit Suisse Cuts World Wealth Outlook on Economic Slowdown
- Wealth now forecast to gain 6.6% a year through 2020
- China riches expected to increase more than 9% a year
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Private wealth will expand at a weaker pace through 2020 than previously forecast because the global economy isn’t advancing as quickly as expected, according to Credit Suisse Group AG.
Wealth is now expected to expand 6.6 percent a year to $345 trillion through June 2020, the Zurich-based bank said in its annual wealth report on Tuesday. That compares with last year’s projection of an increase of 7 percent a year to $369 trillion by 2019.