The global slowdown that began in early 2018 is nearing an end, according to Goldman Sachs Research economists, who forecast 3.4% global GDP growth in 2020. The modest increase from 2019’s expected growth of 3.1% will be driven by easier financial conditions, a US-China trade détente, and reduced Brexit uncertainty.

Goldman Sachs Research expects Asia-Pacific growth to gradually accelerate from 4.7% to 4.9% in 2020, driven by fading trade tensions and easing financial conditions.

“Our expectations for economic policy under the Trump administration and under unified Republican control… are that there will be tax reform coupled with some fiscal easing and also some increase in infrastructure spending. And we do expect that to provide a positive impulse to economic growth,” says Jan Hatzius, chief economist and head of Global Economics and Markets Research at Goldman Sachs.

Invesco Chief Global Market Strategist Kristina Hooper discusses her team’s forecast for economic growth around the world in 2020.

Acting Chief Economist Jay Bryson and host Charlie Dougherty discuss the 2020 economic outlook.