The continued slowdown in global growth that we foresaw a year ago has intensified during 2019, driven by a deterioration in the global industrial cycle and by escalating trade tensions.

With geopolitical uncertainty and unpredictable policymaking becoming the new normal, what are our forecasts for global growth, inflation and interest rates in 2020? And what is the outlook for long-term asset prices in this new age of uncertainty?

Read our global outlook summary to find out more. The full report will follow in December.

Vanguard outlook 2020

Vanguard outlook 2020