Global Macro Service > Research Briefings > Global

Services won’t ride to the rescue of global growth

Global services output is holding up better than manufacturing, but services growth will slow this year and so won’t prevent world GDP growth slipping to its weakest pace since 2016. While services output will be supported this year by some policy stimulus and firmer real wage growth in advanced economies, there are also significant headwinds from weakening world trade and negative wealth effects.

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