The global economic recovery might be sluggish in 2020

Although risks have receded since the last projection, a re-escalation could easily derail the growth

In the last economic outlook review, as outlined by the IMF report, we saw a synchronized global economic slowdown emanating from trade war risks, Brexit uncertainty and underperforming emerging market economies. Although the year 2019 has ended on an optimistic note, the downsides risks remain.

On the bright side, the China-US Phase 1 trade deal has provided a big boost to investor sentiment globally and a lower likelihood of the No-Brexit deal with the new government in the UK has improved outlook projections in the Euro region as well. In addition, easing monetary policies by central banks around the globe are continuing to support growth.

With these developments, a tentative economic recovery seems to be taking shape but the global risks remain elevated for now. The enforcement of the trade deal conditions between China & the U.S, underperforming emerging markets and Brexit outcome will keep the growth at subdued levels at best for now.

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