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UN says GDP growth to be lowest since financial crisis

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Christian Fernsby ▼ | September 30, 2019
The United Nations Conference on Trade and Development projects global economic growth this year to come in at 2.3 percent.
U.S. manufacturing
World   The U.S. has seen exports fall this year by 1.7 percent
This would the lowest since 2009, when due to the global financial crisis, world economic growth fell to minus 1.7 percent.

Topics: GDP crisis

Not only are developed economies such as the U.S. and the EU seeing sluggish growth but so is China, the country long called the factory of the world.

China is doing all it can to keep its economic growth at 6 percent, but it's hindered by its protracted trade war with the U.S.

China saw growth of 6.4 percent in the first quarter of this year but that went down to 6.2 percent in the second quarter.

The U.S., meanwhile, has seen exports fall this year by 1.7 percent.

The growth it's seen since 2017, the UN says, is fading, and the investment boom is weakening.

In the EU, the troubles are in Germany and the UK.

Germany's second quarter GDP growth decreased by 0.1 percent on-year and there is a possibility of a yet another decrease in the third quarter, which would technically mean a recession.

The UK faces the possibility of a no-deal Brexit.


 

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