Narrative of strong global growth usurped by anxiety and slowdown

THE rosy narrative of a strong revival in the global economy that was shaped by upbeat numbers in the first quarter of this year is wilting.

Tariffs and geopolitical tensions have risen while protracted worries from the Brexit chaos and the on-and-off trade talks between US and China persist, hurting trade volumes and manufacturing activity. While the super powers are now looking to rekindle talks at the G20 summit in Japan, no one expects a concrete trade deal for now as neither one seems willing to make meaningful concessions.

Economists say these factors are deepening the slowdown that already appears underway. As expected, the latest data dumps out of major economies have sullen undertones on what lies ahead.