Businesses are increasingly positive about prospects for the world economy, with optimism over the global outlook at its strongest for two years, according to Oxford Economics’ latest survey of global risk perceptions among clients and business contacts, including some of the world’s largest companies.
Topics: Global economics, Global surveys, Business and economic outlook, Global trade, US tax cuts, Fiscal stimulus, North Korea, Protectionism, Trump, China, China slowdown
Businesses remain fearful over risks of major economic upsets that could trigger a global slowdown - despite the present upswing in world growth, according to our latest quarterly survey of global corporate risk perceptions. Business fears over tensions between the US and North Korean and over potential US policy errors emanating from the Trump Administration have persisted since the summer, even as world growth has strengthened.
Topics: Trump, North Korea, Populism, Global economics, Global surveys, Business and economic outlook
Our top ten calls for 2017 are, not surprisingly, dominated by the impact of Donald Trump’s surprise election victory in November. The full effect of reflationary policies under the new Trump administration is unlikely to be seen in the real economy until 2018 with world GDP growth and trade growth remaining moderate next year. Nevertheless, we do expect US growth to firm in 2017 and US financial market developments – to some extent anticipating the likely fiscal policy and growth effects of Trump’s policies – will have a major impact on the global economic landscape.
Topics: Trump, Global economics, Forecasts
If the most iconic American job ever is riding the range as a cowboy, then rolling down the highway as a long-haul trucker is somewhere on the short list. Now, 159 years after a patent was issued for the technology (barbed wire) that would end mass employment for the cowpoke, technology in the form of self-driving vehicles is threatening to reduce the role of the truck driver—one of the most common occupations in the country.
Topics: Edward Cone, Technology, Trump, Robotics
The election of Donald Trump has introduced new uncertainty into the outlook for the US travel industry. While a Clinton presidency would have been broadly considered a continuation of existing policies, Trump ran a campaign calling for shifts in foreign, fiscal, trade, and immigration policies that have potentially significant implications for the global economy and travel.
Oxford Economics has separately analyzed Trump’s proposals and assessed a range of risks to the US economy. The conclusion of this analysis is that the most likely scenario involves significantly watered-down positions that would produce only marginally slower economic growth in 2017 and 2018 relative to our pre-election baseline scenario.