“The warning signs are clear. Debt is rising on every continent and especially in the business sector, which has spent the past decade ramping up its borrowing to previously unheard-of levels…
“Most of the problems afflicting the global economy relate to a lack of demand for goods and services, at least on average, compared with the years prior to the 2008 crash.”
“U.K. construction contracted for an eighth month in December, the longest period since the financial crisis, as political uncertainty and the general election subdued client demand.”
“The eurozone has suffered the weakest post-crisis recovery after a lost decade for swathes of the ailing region, with analysts predicting the economic malaise will extend into the 2020s.
“The currency bloc has lagged every other major developed economy since the global recovery started in 2009…”
“A key gauge of US manufacturing activity dropped to its weakest level since the global financial crisis in December as a tit-for-tat trade dispute between the Trump administration and China dragged on.
“The Institute for Supply Management said on Friday that its index fell to 47.2 last month, a low not seen since June 2009…”
“Two monetary-policy experts, contradicting former Fed Chairman Ben Bernanke, said they wanted the central bank to consider new “radical” approaches to fight the next recession, out of a concern that existing tools might not be as effective as they were in the last crisis.”
“2019 felt like a rollercoaster ride. 2020 is almost certain to be even wilder. Australia has never started a year with interest rates so low and with so much uncertainty around.
“Doubt is enveloping house prices, wages, and global markets. It’s hard to see how the RBA could possibly get relaxed enough about the future to raise interest rates.”
“China moved to pump more cash into its financial system, suggesting that Beijing remained concerned about faltering growth despite signs that the world’s second-largest economy was stabilizing.
“China’s central bank, the People’s Bank of China, announced that it would inject about US$115 billion into the economy by freeing up banks to lend more money.”
“Top central banks will sweep up bonds worth hundreds of billions of pounds to kick-start growth again in 2020 in their latest unprecedented intervention into financial markets.
“The balance sheets of the four main central banks in the eurozone, US, Japan and UK are collectively expected to swell to more than £12 trillion by the end of 2020 after policymakers resorted to rebooting their quantitative easing (QE) programmes.”
“New automobile sales worldwide in 2019 are expected to fall on a unit basis by about 4%, according to data released as of Saturday, a drop so steep it was last seen in the midst of the global financial crisis in 2008 and 2009.
“This marked the second straight year of declines…”
“The Baltic Exchange’s main sea freight index touched its lowest level in eight months on Friday, weighed down by weak demand across all vessel segments.
“The Baltic index… fell 69 points, or 7%, to 907 points, its lowest level since end-April 2019. The index posted its biggest one-day percentage drop since January 2014, in the previous session.”
“Hopes that 2020 would bring a happy new year for the global economy have already fizzled out.
“A closely watched figure has showed the world’s manufacturing sector all but ground to a halt in the final month of last year.”
“Stock markets surged despite warnings from the International Monetary Fund in 2019 that the global economy was in its weakest state since the financial crisis a decade ago.”