GDP Growth Slows in 2019, Returning to Trend
While the global economy continues to expand, the pace has stepped down since last year. The slowing largely reflects a return to trend following the cyclical boom of the last couple of years. In the United States, growth is projected to be considerably slower amid the waning of significant fiscal stimulus in 2018. The euro area is also returning to trend, and China’s successful efforts to curb the expansion of credit is damping its growth.
This PIIE Chart was adapted from Karen Dynan’s presentation at the April 2, 2019 event, Global Economic Prospects: Spring 2019.