By Darren Williams
The global economy faces its most challenging year in over a decade. Policymakers still have options, but can they use them effectively?
We've revised our forecasts and now expect the global economy to grow by just 2.3% next year, the lowest in ten years. That's not weak enough to be called a recession and it's certainly not comparable to 2009 (when global output contracted by 2%), but it does represent a material slowdown that could leave the world more vulnerable to adverse shocks.
Manufacturing Weakness vs. Consumer Resilience
Several factors make the