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The Long-Term Slowdown Is Upon Us: How Should Business Respond Now?
The plateauing of global economic growth during 2018 has now clearly turned into a modest slowdown for 2019. The Conference Board global growth outlook for 2019 has been adjusted downward to 2.8 percent, down 300 basis points from our earlier projection of 3.1 percent. While there is no shortage of short-term risks, the modest slowdown in the global economy seems more driven by long-term factors such as stagnant labor supply and weak productivity growth rather than a large pullback in investment in anticipation of an imminent downturn. The slowdown has gone hand in hand with a shift in monetary policies by the world’s largest central banks toward greater easing. Business leaders and policy makers should avoid overreacting to short-term volatilities and stay focused on strategies and policies that raise the long-term potential of the economy.
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- StraightTalk (global overview) (April 2019 edition to be released shortly)
- United States (November 2018)
- Europe (November 2018)
- Emerging Asia (November 2018)
- Japan (January 2019)
The next quarterly update of The Conference Board’s Global Economic Outlook is scheduled for July 10th, 2019.