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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
IMF cuts global growth forecasts for 2018 and 2019
The International Monetary Fund (IMF), in its quarterly update on world economic outlook, slashed its global economic growth forecasts to 3.7% from 3.9% for both, 2018 and 2019, due to escalating trade tensions and pressures in emerging markets, amid US-China trade war.
IMF left growth forecasts for the US and China unchanged at 2.9% and 6.6% respectively, for the current year, but trimmed its 2019 growth forecast of the US and China to 2.5% and 6.2%, respectively.
German trade surplus widened in August
In August, the seasonally adjusted trade surplus in Germany rose to €17.20 billion, following a trade surplus of €16.50 billion in the prior month. Markets were anticipating the nation’s surplus to drop to €16.20 billion.
German exports unexpectedly slid in August
The seasonally adjusted exports in Germany unexpectedly fell 0.10% on a monthly basis, in August, compared to a fall of 0.90% in the prior month. Market anticipation was for exports to advance 0.40%.
German imports dropped more than expected in August
The seasonally adjusted imports in Germany eased 2.70% on a MoM basis in August, higher than market expectations for a drop of 0.10%. Imports had risen 2.80% in the previous month.
US small business optimism index slid in September
In the US, the NFIB small business optimism index recorded a drop to a level of 107.90 in September, lower than market expectations of a drop to a reading of 108.30. In the previous month, the index had registered a reading of 108.80.
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