Greetings,
The United States: Economists expect slower US growth this year, but not a recession. According to Bloomberg, the consensus forecast for the 2019 full-year GDP growth is 2.4%, which may be a bit optimistic.
The Eurozone: Economists will be downgrading Germany’s GDP growth forecasts further
Equities: This chart shows cumulative tech fund flows
China: Retail sales have been soft, but excluding autos and housing-related goods, growth has been stable.
Global Developments: Last week ended with a sharp shift in sentiment as markets moved into “risk-off” mode. The selloff in stocks around the world resumed on Monday.
Food for Thought: Puerto Rico’s economy rebounded after Hurricane Maria, but the long-term contraction trend persists.
Edited by Joseph Cohen
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Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen), Ycharts.com, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.
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