Rising protectionism remains the greatest challenge to global growth. Trade policy and the uncertainty related to what happens next is dampening business confidence and new business investment, while the disruption to global supply chains makes for a challenging environment for global industrial production.
It’s not all bad, however. Looking out to probable market developments in late 2019, we see a better global valuation picture than one year ago on a range of measures.
Read more on our outlook for the New Zealand and global economies, and across asset classes, in the July 2019 edition of Quarterly Strategic Outlook.
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