Economy

DRIVER: The global economy still faces serious headwinds and political uncertainty potentially balanced by the enormous promise of technological advancements in many fields. Read on to get a solid handle on the opportunities and risks you and your organization may likely face and set your sails accordingly.

• [New] Companies around the world - including those in the US - are rapidly aligning their business strategies with Paris Agreement to build a just transition to net-zero emissions by 2050 that protects people, reduces risk and drives economic growth.
• [New] Demand for gasoline in the United States is expected to decline through about 2040 because of improvements in fuel economy.
• [New] Permian oil production already is a major force in world supply growth: IHS Markit analysts expect a "stunning" level of growth that will comprise more than 60% of net world production growth.
• [New] IHS Markit anticipates that oil from the Permian Basin will comprise more than 60 percent of the net global production growth in five years.
• [New] The growth of US production to record levels could undermine the efforts of OPEC's production cuts far.
• [New] Having fought so hard to achieve higher prices it is safe to say that both Saudi Arabia and Russia will do their best not to rattle the market: On that basis, increasing production by more than what has been and will be lost from Venezuela and Iran is unlikely to occur.
• [New] In its annual assessment of the U.S. economy, growth will hit 2.9 percent this year and 2.7 percent next year.
• [New] Dar es Salaam in Tanzania and Angola's capital, Luanda will join Africa's club of urban economic giants, alongside Cape Town and Johannesburg.
• [New] The United States will continue to promote energy security and economic growth in a manner that improves the health of the world's oceans and environment.
• [New] Rapidly growing economies in Asia-Pacific with significant growth in industrialization and technological advancement will pave the path for increasing adoption and propel the market for digital transformation market.
• [New] The threat of African Swine fever represents a significant risk to the outlook for EU pig prices in 2018.
• [New] Economic growth in South Africa is expected to be lethargic.
• [New] The demand for tires that will aid in reducing fuel consumption will increase in the coming years, driving market growth.
• [New] The U.S. economy is getting a boost from the Trump administration's tax cuts and higher government spending, but the IMF expects growth to slow considerably in coming years.
• [New] An increasing working-age population is a major opportunity for economic growth in Africa.
• [New] The use of consumption data will enable manufacturers to predict future demand and counteract global shortages.
• [New] The next generation of combustion engines due for 2019 is expected to show more reductions in fuel consumption and emissions.
• [New] Mario Draghi admitted that the economy of the Eurozone in 2018 will not return to the forecasted level of growth.
• [New] North America is expected to continue leading the consumption of interventional cardiology devices.
• [New] By the end of 2022, North America is expected to generate a revenue of US$4.04 bn through its demand for interventional cardiology devices.
• [New] The Danish economy is on an upswing with around 2% growth and 4% unemployment: Industries such as construction and transportation lack low-skilled staff and 70,000 additional workers will be needed by 2025 to fill expected labor market demands.
• [New] India's action plan does not mention 'carbon neutrality' but states that it will aim to reduce growth of its carbon emissions by 33-35 % of its economy by 2030.
• [New] New research from the McKinsey Global Institute finds that Asia-Pacific economies could boost their collective GDP by $4.5 trillion per year by 2025.

Last updated: 19 June 2018