Outlook deteriorated rapidly : can this be turned around?

Global economic growth is expected to remain somewhat slower in 2019 than the previous year. Growth is expected to abate gradually in the United States amid the fading effects of the fiscal stimulus. China’s economic growth has continued to slow. The approach of the United Kingdom’s withdrawal from the EU has weakened the UK economy. Euro area economic growth has also moderated rapidly and more persistently than previously expected. World trade and industrial output in the advanced economies contracted at an alarming pace at the end of 2018. The annual growth rate of world trade in goods turned negative in December. Industrial confidence has declined on a broad front – at the end of 2018 also in the United States.