Economic Outlook - RBC Global Asset Management

Economic Outlook

Hear directly from RBC Global Asset Management Chief Economist, Eric Lascelles in his monthly and quarterly updates. Representing RBC GAM Investment Strategy Committee's (RISC) economic views, Eric shares timely insights and the expectations of RBC GAM on the global economy.


Monthly Economic Outlook Webcast

Monthly Economic Outlook Webcast

Rebounding markets / slowing growth - February 2019

Eric Lascelles, Chief Economist, RBC Global Asset Management, shares the latest views on the global economy and offers insight into today’s economic issues.

The webcast includes an audio and slide presentation.

Launch Presentation
Disclaimer

Key Highlights

  • The global growth outlook, despite being diminished, still looks OK by post-crisis standards. However, there is much evidence of a slowing macro-economic trend.

  • The International Monetary Fund (IMF) has cut its forecast for global economic growth for 2019 citing heightened trade tensions and rising U.S. interest rates.

  • China's GDP growth has been slowing; its growth rate in 2018 was the slowest it's been in nearly 30 years.

  • The rate of growth in money supply has been slowing and the yield curve is flattening, suggesting that the risk of recession is rising.

  • In trade news, the U.K.'s Brexit plans are in disarray ahead of a theoretical deadline in March and U.S.-China trade negotiations are underway.

  • Democrats have now formally taken control of the U.S. House of Representatives and the government shutdown has received a short reprieve.

  • On a more positive note, risk assets such as stocks have rebounded notably in January and credit spreads have narrowed.

  • In an effort to stabilize its economy, China has unleashed economic stimulus through additional tax and rate cuts.

  • Central banks are 'dovish' or less keen on raising rates, helping to give new life to markets and perhaps the economy as well.


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