Deutschebank downgrades forecasts

Deutschebank downgrades forecasts

German banking and financial giant, Deutschebank has predicted that global growth will be slower than it had predicted a few months ago. The bank says that there is a ‘remarkable calm’ in markets at the moment but believes it will not last. Their global growth forecast is now 3.3 per cent, down from the 3.5 per cent they estimated in March. For the US, the downward revision is steeper; 2.3 per cent against the previous 3.1 per cent prediction. Japan, they say, will see growth of 1.2 per cent. Deutsche say they think late summer could bring some challenges for markets, but expect it to be a ‘manageable storm.’ Read the full story.