Global economic growth rut at risk of deepening despite rate cuts: Reuters polls

A global economic growth rut risks deepening, despite expectations that major ce...

BENGALURU - A global economic growth rut risks deepening, despite expectations that major central banks will cut rates or ease policy further, according to Reuters polls of over 500 economists who remain worried about the U.S.-China trade war.

Increasing pessimism is clear from the latest Reuters polls taken July 1-24, which show the growth outlook for nearly 90% of over 45 economies polled was either downgraded or left unchanged. That applied not just to this year but also 2020. While the remaining respondents still expect a global rebound from the current rut, economists were split nearly 50-50 on that question only three months ago.

While global growth forecast to average 3.2% this year lines up with the International Monetary Fund’s latest projection, it marks the lowest since polling began two years ago for the period. Inflation across most countries is forecast to remain below central banks’ mandated targets, or in some cases not expected to rise significantly.

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