Published Friday, January 11, 2019 at: 7:00 AM EST
Amid grim headlines and a widely-held perception that global growth is slowing dramatically, new economic data forecasts from The World Bank and The Wall Street Journal indicate that neither world economic growth nor the U.S. economy are in bad shape.
Since June 30th, 2018, the economic staff at The World Bank shaved their expectations for global growth by a tenth of 1%. That's a small downward revision compared to the concerns in the media about the trade dispute with China causing a global slowdown that will hit the United States.
On the first Monday of every month, The Wall Street Journal asks 60 leading economists for their forecasts, and their January consensus was unchanged at 2.3% from a month ago for the five quarters through December 31st, 2019. The fourth quarter 2018 forecast was revised up from December by one-tenth of 1%.
The outlook for the economy of the U.S. and the world remained okay, amid heightened volatility and growing fear in recent months, and the Standard & Poor's 500 — a key growth component in a broadly diversified portfolio — closed at 2,596.26 on Friday.
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