Back to the complete issue
Monday, 17 July 2017

GS sees slower, sustained global growth in 2H2017

Global growth will be slower, more sustained: Goldman Sachs Research’s Chief Economist Jan Hatzius expects “good” economic growth to continue in 2H2017 but without much of the “acceleration” seen in the “last year or year and a half.” In one of the firm’s 2017 mid-year outlook videos (runtime 02:55), Hatzius says growth will be slower in “places like Japan and Europe” with the US expected to see continued above-trend growth in the 2-2.5% range. There are many places with a “very good recovery” in emerging markets, he says, pointing to Brazil and India as well as “many smaller emerging economies around the world [that] look a lot better than they did a year or a year and a half ago.”

Hatzius remains concerned over the increase in debt in China that is rising at an “unsustainable” rate. As for the international energy markets, Head of Commodities Jeff Currie says the oil market will continue to search for equilibrium, but the balance of risks is tilted to the upside in 2H2017. Currie says “driving that uncertainty are the costs and technological innovations that are being generated from the New Oil Order in a shale industry that is continually evolving” (runtime 02:33).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.