In the latest in an ongoing series of quarterly briefings looking at major (and some minor) developments in the world of tobacco, we assess the latest performance of the major multinationals, important cannabis and NPD/NGP updates, the reviewed economic growth projections for the world’s key markets and what to look for in the next quarter.
The first half of 2019 has seen downgrades to the global outlook especially in emerging and developing economies.
Global GDP growth is expected to be 3.1% in 2019, rebounding to 3.3% annually in 2020-2021.
The overwhelming contribution to global growth will continue to come from developing and emerging economies (EM), with their output expected to rise by 4.3% in 2019, improving to 4.7% growth annually in 2020-2021.
Advanced economies (AE) growth is expected to be 1.7% in 2019, declining to 1.5% annually in 2020-2021.
Overall global downside risks have increased, with rising trade tensions and financial markets volatility since May 2019.
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