This year’s second edition of Global Economic Outlook reveals a fragmented horizon for the world economy. Global growth is expected to remain at around 2.7 per cent per year until 2026, which is just below the average growth rate for the period 2015–2019.
Europe is seeing signs of recovery despite the current standstill in the German economy. North America is witnessing a slowdown and a soft landing is increasingly likely for the US economy. Meanwhile, growth in Asia is losing steam mainly due to developments in the region’s largest economy, China.
The world economy is also weighed down by geopolitical tensions and rising protectionism, which is dampening expectations among businesses and households. But Sweden is a notable exception.
Domestic demand will overtake exports as the growth driver in the Swedish economy next year. Swedish exports have lost momentum but will recover as soon as demand bounces back in key export markets.
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