Economic outlook

In its economic forecast from January 2019, the International Monetary Fund (IMF) expects global economic growth of 3.5 percent in 2019 and of 3.6 percent in 2020. We expect growth in our core markets to slow down, even though the stable economic trend is expected to continue. The economies in Germany, the United States, and the countries of our Europe operating segment are recording positive growth rates, driven by positive trends in both private consumer and investment spending. The labor markets are also benefiting.