Pimco Sees U.S. Lagging Behind Global Economic Growth in 2020

U.S. growth is likely to slow in the first half even as the likelihood of recession recedes globally amid reduced trade tensions with China and further accommodation by central banks, according to Pacific Investment Management Co.

“Just as the U.S. cycle lagged behind the global cycle during 2018 and 2019 with the U.S. economy slowing later and by less than the rest of the world, we expect global growth to trough out and rebound earlier than U.S. growth this year,” Joachim Fels, global economic adviser, and Andrew Balls, chief investment officer for fixed income, wrote in an outlook released Tuesday.