Global Growth Bottoming and Nasdaq Hits Record High

The Nasdaq has a new record high. Global Growth has slowed the last two or three years but global fund managers are seeing a bottoming in global growth.

Fedex reports that they project an increase in economic growth in China in the second half of 2020.

Moody’s forecasts India’s GDP growth in Fiscal 2020 at 4.9%.

China will report GDP growth of about 6% but GDP growth in China will be in the 5-6% range from 2021-2024.

Philippine Socioeconomic Planning Secretary Ernesto Pernia projects Philippine (GDP) growth will be between 6.0 to 6.5 percent for 2019 and 6.5 to 7.5 percent in 2020 to 2022.

Risks to growth are possible water shortages in 2020, weak global growth and stagnating world trade, disruptive technologies, and the volatility of oil prices.

Japan Cabinet Office raised its GDP growth projection to +1.4% for fiscal year 2020 from a prior 1.2% projection.

The upgrade was fro improvement in domestic demand due to stronger corporate investment and a boost to growth from public spending from the $122 billion fiscal package approved by the Cabinet this month.