Marc-Antoine COLLARD, Chief Economist, Head of Economic Research, Asset Management, Europe
The pace of global economic expansion remains low and belowtrend, affected by the further escalation of trade tensions. Even the US’s economic statistics have suffered a widespread – albeit gradual – deterioration. Investment and global trade were weaker than expected at the beginning of the year, and falling sovereign rates in most countries reflects the fragile momentum of global growth, which is subject to significant downward risks. The equity markets, however, still anticipate a rebound of the global economy in H2 2019, as a result of uncertainties dissipating and resolutely accommodative central banks coming to the rescue.
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