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The International Monetary Fund issued another grim warning for global growth.
It said that the US-China trade war would cut 2019 global growth to the lowest levels since 2008 – 2009. The IMF stated that the global outlook could darken even further if the trade tensions are not resolved.
The report comes after the US and China resumed trade talks this week. But the initial euphoria faded after Treasury Secretary Mnuchin warned that the US will go ahead with the tariffs it postponed if talks fall through.
German Economic Confidence Weakens Modestly
The investor confidence in Germany weakened slightly in October. The ZEW’s assessment of current economic situation fell to the lowest level since 2010. The ZEW index fell to -22.8 in October from -22.5 a month ago.
The data was, however, slightly better than the forecasts of a decline to -27. Meanwhile, the ZEW economic sentiment also weakened to -23.5 from -22.4. That being said, it still came in better than was forecast.
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