The IMF released yet another report predicting the global economic slowdown in progress. Latest is regional Middle East-N. Africa-Iran-Afghan-Pakistan economic growth forecast by IMF slowing now to 1% (Oxford Economics’ forecast even lower at 0.6% currently). Meanwhile, Europe/UK/Germany heading for recession, at less than 1% and falling. Hard Brexit now coming with UK Johnson as PM, Europe to slow faster and enter recession in next 6 months. In addition, Japan slowing to 1%. US 2H19 GDP to decline below 2%. China real GDP likely at no more than 4% and slowing. While sanctions are certainly depressing the Iranian economy, global recession in manufacturing now in progress, and falling global demand for oil, are likely even a greater factor.
Watch my video Youtube commentary on latest IMF forecast.
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