Dec 2, 2018 - Economy

Synchronized global financial growth is slowing down

Axios

Volkswagen car on an assembly line. Photo: Carmen Jaspersen/picture alliance via Getty Images

"The global economy is ... palpably weakening," the NY Times' Peter Goodman reports from London. "Many nations are mired in stagnation or sliding that way. Oil prices are falling and factory orders are diminishing, reflecting slackening demand for goods."

Be smart: Slower growth is not going to make anyone feel more secure about the prospect of robots replacing human hands, or jobs shifting to lower-wage lands.

"Companies are warning of disappointing profits, sending stock markets into a frenetic bout of selling that reinforces the slowdown."
"Germany and Japan have both contracted in recent months. China is slowing more than experts anticipated."

"Even the United States, the world’s largest economy, and oft-trumpeted standout performer, is expected to decelerate next year as the stimulative effects of President Trump’s $1.5 trillion tax cut wear off."

"The reasons for this turn run from rising interest rates delivered by the Federal Reserve and other central banks to the unfolding trade war unleashed by the Trump administration."

Go deeper: 3 warning signs U.S. economy could be close to recession

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Synchronized global financial growth is slowing down

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