The trade tensions that sprang up more than a year ago remain unresolved, despite the June ‘truce’ between China and the US that prevented an immediate tariff escalation. Geopolitical tensions, especially in the Middle East, are adding to a climate of uncertainty that weighs on business investment decisions globally.
In this month’s update on the World Economic Outlook, the International Monetary Fund (IMF) is projecting global economic growth of 3.2% this year, compared to a forecast of 3.9% a year ago.