Economic Overview: Global Growth Slows as Stock Markets Seek Direction
The Organisation for Economic Co-operation and Development (OECD) has issued an important warning about the global economy. According to the organisation, global growth will slow down in the coming period rather than accelerate. This slowdown is primarily caused by economic developments in the United States, which have a major impact on the rest of the world.
In Europe, however, the mood on the financial markets was positive around midday. European stock exchanges recorded higher prices, partly thanks to strong economic figures from China. These figures gave investors in Europe hope for a solid recovery in international trade.
In the United States, the situation on the stock market is less clear. There are conflicting signals regarding the opening of Wall Street. While some analysts predicted a slightly higher start, so-called 'futures' pointed to a slightly lower opening. This is resulting in a wait-and-see attitude among American investors.
Economic figures from the US were not very positive today. Retail sales rose less than expected in February. Additionally, there was bad news from the manufacturing sector: the Empire State index, which measures activity in the New York region, fell significantly in March. This indicates a decline in industrial production.
The US housing market is also showing a decline. Confidence among homebuilders in the United States decreased further in March. A small bright spot was that business inventories in the US rose in January in line with expert expectations, indicating that companies have their inventory management in order.
There is good news for gold investors. The bank UBS expects the gold price to rise further in the coming period. The price of gold recently reached a record high of more than 3,000 dollars per troy ounce, and analysts believe this trend will continue.
Finally, there is a lot of attention on the crypto market, particularly for the coin Ripple (XRP). The coin is currently at a crossroads, and analysts are waiting for a potential breakout. Although there are opportunities for profit, experts remind investors that the crypto market always carries significant risks.