IMF Report Sounds Alarm over Trade Wars, Global Growth

Shipping containers in Barcelona, cc Flickr David Merrett, modified,

The IMF released its’ bi-annual World Economic Outlook report this week, bearing the sobering caption: ‘Global Manufacturing Downturn, Rising Trade Barriers.’

Needless to say the outlook was anything but rosy, and with its release the Fund adds its own voice to the growing chorus of economic soothsayers predicting a downturn in the global economy.

The report warns of a broad slowdown that is now taking hold, with 2019’s global average expansion coming it at around 3% – the lowest rate since the global financial crisis. This is a far cry from the 3.8% recorded in 2017, when there was modest optimism that the global economy might be entering a new expansion cycle.

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