China stepped up its economic recovery in the third quarter from the coronavirus shock but missed forecasts, pointing to continued challenges for one of the few drivers of global growth this year.
Wall Street climbed to record highs on Friday, with major indexes turning in their strongest weekly gains since August, after strong U.S. housing data and signs of resilience in the Chinese economy raised hopes of a rebound in global growth.
Brazil and Mexico have begun talks on a free trade deal, officials announced seeking to deepen commercial ties between the two largest economies in Latin America as trade tensions threaten to undermine global growth.
The World Bank slashed its global growth forecasts for this year in a report released on Tuesday that portrayed a world gripped by deepening trade conflict, tumbling confidence and increasingly skittish investment. Although the global development lender currently expects a modest recovery 2020 and 2021, the bank said in its semi-annual report that a lot will have to go right for this to happen.
The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2019 and warned growth could slow further due to trade tensions and a potentially disorderly British exit from the European Union.
The International Monetary Fund has warned that escalating trade tensions could undermine global economic growth. In a new report on the world economic outlook, the IMF also warns of risks from a no-deal Brexit. For the world economy, the IMF is now predicting growth of 3.5% in 2019. In October, it forecast 3.7%.