Asset Management: Monthly Letter – May 2019

Marc-Antoine Collard, Chief Economist, Head of Economic Research, Asset Management, Europe

Global economic growth peaked at nearly 4% in 2017, then declined to 3.6% in 2018, and is expected to slow further in 2019 to 3.3%, the slowest pace in a decade. After several months of relative disappointment, a rebound in economic growth is expected by most forecasters in H2 2019. Unfortunately, some elements are in contradiction with this scenario of stronger global growth.

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