DAVOS, SWITZERLAND – Calls are growing louder for President Trump to end the trade war and government shutdown as fresh evidence pours in that businesses and consumers are losing faith in the global expansion.
On Monday, the International Monetary Fund cut its global growth predictions for this year and next, saying “the balance of risks remains skewed to the downside” and momentum is “past its peak.”
Chief executives ranked a global recession as their number one concern for 2019, according to a survey of nearly 800 top business leaders around the world released Thursday by The Conference Board. Global trade threats came in second. Even consumers, who power the U.S. economy, are on edge. Consumer confidence has fallen to the lowest level of Trump’s presidency, according to the University of Michigan Consumer Sentiment survey out Friday.
[Read full article here.]