Will China’s deflation spill over to PHL?
The International Monetary Fund made a fifth-straight cut to its 2019 global growth forecast early this week following a broad deceleration across the world’s largest economies. The IMF said the world economy will grow 3 percent this year, down from 3.2 percent predicted in July. Its 2019 forecast would be the weakest since 2009. “With a synchronized slowdown and uncertain recovery, the global outlook remains precarious,” said IMF Chief Economist Gita Gopinath. “There is no room for policy mistakes and an urgent need for policy-makers to cooperatively de-escalate trade and geopolitical tensions.”