The Insurance Information Institute's first-ever Global Macro and Insurance Outlook written by Dr. Michel Leonard, CBE, Vice President and Senior Economist.
The Insurance Information Institute’s (I.I.I.) inaugural Global Macro and Insurance Outlook notes the growing volatility surrounding Brexit, the United Kingdom’s effort to separate from the European Union, and the protests in Hong Kong. Lower interest rates also are doing little to boost economic activity, the I.I.I.’s report says, with the International Monetary Fund (IMF) projecting global GDP growth at 3.2 percent in 2019. That figure stood at 3.6 percent in 2018. According to the report, the key issue for the global economy for the rest of 2019 will be whether the weak growth of the last three quarters turns around, slow growth continues, or the global economy slips into recession. The three quarters include the following nine months—October 2018 through June 2019.