According to the July 2019 World Economic Outlook Update released by the International Monetary Fund (IMF), global growth is forecast at 3.2 percent for 2019 and 3.5 percent for 2020. However, as downside risks concerning the global economy seem to be increasing, careful attention is warranted on the timing and pace of its pick-up.
Looking at developments by major region, the U.S. economy has been expanding moderately, although relatively weak developments have been observed in the manufacturing sector. The European economy has remained in its deceleration phase. The Chinese economy has continued to see stable growth on the whole, but weakness has been observed in the manufacturing sector.