Below are charts which contrast average consensus GDP growth forecasts for 2018 and 2019 for the developed markets and the emerging markets. GDP 2018 forecasts were revised upward during 2017 and stabilized in mid-2018 for both developed and emerging markets. Looking at GDP 2019 forecasts for developed markets, forecasts were stable in 2018, but there has been a downward trend since the beginning of 2019. For emerging markets, GDP 2019 forecasts started to decelerate downward in 2018, and this downward trend has accelerated in 2019. Nonetheless, as of the end of July 2019, the average GDP 2019 forecasts were still positive for developed markets (at 1.7%) and emerging markets (at 2.9%). Despite the downward revisions, all markets still had positive GDP forecasts for 2019, except for Argentina and Turkey.
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