U.N. forecasts slower global growth this year. Thanks, trade war.

Kimberly Adams May 23, 2019
HTML EMBED:
COPY
Workers stand in line next to a container ship at a port in Qingdao in China's eastern Shandong province earlier this month. AFP/Getty Images

U.N. forecasts slower global growth this year. Thanks, trade war.

Kimberly Adams May 23, 2019
Workers stand in line next to a container ship at a port in Qingdao in China's eastern Shandong province earlier this month. AFP/Getty Images
HTML EMBED:
COPY

Economists at the United Nations have revised their estimates for global growth for this year to just 2.7%, down 0.3 percentage points from its January prediction.

Its forecasts for global trade fell even more significantly, down to 2.7% — nearly a percentage point lower than previously expected.

Many of the issues analysts expected to be resolved by now have not, including a Brexit deal and instability in Venezuela. But the largest geopolitical risk comes from renewed trade tensions between the United States and China.

Slowing growth threatens U.N. development goals, such as ending extreme poverty.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.