4 Apr 2014
Global growth? Not for two years - DB
FXStreet (Guatemala) - Gaël Gunubu, analyst at Deutsche Bank AG explained their view on global growth.
Key Quotes:
"While we maintain our core view that global growth should pickup meaningfully over the next two years, we have marked down our forecasts relative to last quarter. Broad-based EM downgrades account entirely for these downward revisions".
“Broad-based EM downgrades account entirely for these downward revisions. Most notably, we reduced our growth forecast for China in 2014 by 0.8pp”.
“While we continue to look for the recovery in export growth observed in the second half of last year to continue through this year and into 2015, we now expect the government will use this as an opportunity to depress investment in heavy industry even more”.
Key Quotes:
"While we maintain our core view that global growth should pickup meaningfully over the next two years, we have marked down our forecasts relative to last quarter. Broad-based EM downgrades account entirely for these downward revisions".
“Broad-based EM downgrades account entirely for these downward revisions. Most notably, we reduced our growth forecast for China in 2014 by 0.8pp”.
“While we continue to look for the recovery in export growth observed in the second half of last year to continue through this year and into 2015, we now expect the government will use this as an opportunity to depress investment in heavy industry even more”.