Pimco Lowers Global Outlook Seeing Slower Growth in U.S., Europe
- Firm cuts 2016 U.S. economic forecast quarter percentage point
- China's yuan remains the `biggest risk for the global economy'
Pimco's Fels: Why a Recession Is Not Around the Corner
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Pacific Investment Management Co. reduced its outlook for global growth in 2016 as central-bank measures to stimulate the economy become increasingly ineffective.
Gross domestic product will expand globally 2 percent to 2.5 percent in 2016, down from a December forecast of 2.6 percent, according to a report Wednesday written by Joachim Fels, managing director and global economic adviser, and Andrew Balls, Pimco’s chief investment officer for global fixed income. The global economy grew 2.6 percent last year and 2.8 percent in 2014.