Worries about the global economy percolate even as equities around the world rise, but an economist at Ned Davis Research says the worst of it may be over.
div > div.group > p:first-child"> Alejandra Grindal, senior international economist at the firm, said the aggregate of manufacturing PMIs from across the globe — widely followed economic indicators — stabilized in March after falling for 10 straight months. Meanwhile, the number of countries reporting expansion in the manufacturing sector rose for the first time in six months.
Grindal's comments follow the International Monetary Fund decreasing its 2019 growth outlook to 3.3%, which would be the lowest since the financial crisis, from 3.5%. In its report, the IMF highlighted risks such as the potential of increasing trade tensions as well as tighter monetary policy from the Federal Reserve.
"The risks appear to be alleviating, although it's not 100%," she said, noting the lowering of these two risks appears to be boosting emerging markets. Manufacturing PMIs in emerging markets like China, Brazil, India and Mexico are all showing expansion in the sector.
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