• 'Ouch': The global economy is having a painful start to 2018

    5 monthes ago - By Chron

    Global developed economy growth slowed sharply at the start of 2018, according to UBS.
    The Swiss bank's economic modeling suggests that growth slowed by 0.7% between the fourth quarter of 2017 and the first quarter of 2018.
    If the USA is excluded from that modelling, the fall is 1%.
    "Ouch."
    That's the verdict of Swiss banking giant UBS on the global economy right now.
    Data suggests a sharp slowdown in growth following several years of rapid expansion. A UBS team led by Arend Kapteyn said in a note on Friday that things are set to get worse.
    The bank's "hard data growth tracker" - which...
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