"This Year's Global Economic Growth Rate Similar to Last Year's Forecast"

Average Growth Rate Forecast for This Year by 35 Economic Analysis Institutions: 3.0%

[Asia Economy Reporter Jin-gyu Lee] Global investment banks (IB) and world economic analysis institutions have forecasted that the global economic growth rate based on this year's Gross Domestic Product (GDP) will be similar to last year's projection.

According to Bloomberg on the 5th, the average growth rate forecast for this year from 35 economic analysis institutions, including IBs and economic research institutes, was 3.0%, the same as last year's forecast (3.0%).

By institution, the growth rate forecasts from Rutgers University Business School in the US and Microfin Analytics were the highest at 3.7%, while Germany's Helaba Bank, Goldman Sachs, and PineBridge forecasted 3.4%. Goldman Sachs predicted that the slowdown in global economic growth would soon end due to the resolution of trade conflicts and a financial easing stance.

However, among the 35 institutions, 11 expected the growth rate this year to fall short of 3%. In particular, Oxford Economics, JP Morgan, and Credit Suisse forecasted 2.5%. JP Morgan stated, "The US growth rate is expected to decrease from 2.3% last year to 1.7% this year." Oxford Economics said, "There are hardly any clear signs of recovery and trade conflicts persist," adding, "The global economic growth trend will hit bottom early this year and then rise, but the upward trend will be weak."

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