Economics
Global Slowdown Leaves Growth Weakest Since Financial Crisis
- UBS model says expansion now the slowest in a decade
- OECD leading index has fallen, ECB officials hint at shift
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The global economy’s loss of momentum has left expansion now looking like its weakest since the global financial crisis, a development that’s already sparked a dramatic shift among central banks.
A UBS model suggests world growth slowed to a 2.1 percent annualized pace at the end of 2018, which it says would be the weakest since 2008-2009. An early reading for this quarter shows a slight improvement, but the numbers still mean there’ll need to be a dramatic improvement to reach the 3.2 percent pace UBS has forecast for the three months as a whole.