Their economy shrank 0.1% in the 2nd quarter after anemic 0.4% growth at the start of the year.🇩🇪 is heavily reliant on manufacturing cars & other industrial goods to power its economy. So far,the famously austere govt has been reluctant to spend to stimulate growth
The UK story is similar to 🇩🇪's. Growth contracted 0.2% in d 2nd Qtr after a weak 0.5% growth in d 1st Qtr. Amidst manufacturing woes,d UK has seen an investment slump largely due to Brexit uncertainty.Leaving d EU in Oct with no deal, 🇬🇧 is expected to enter a recession
3. Italy 🇮🇹
With one of the highest debts in the world amidst political crisis, 🇮🇹 has struggled for years and entered recession last year. Growth in the 2nd Qtr was just 0.2‰ and there’s concern it will turn negative as Italy sells some goods to 🇩🇪 which is in worse shape.
4. MEXICO 🇲🇽
🇲🇽 has been a target of Trump’s trade & immigration battles +decline in business & investments, this appears 2 b taking a greater toll than many expected.Its economy contracted 0.2% at the start of the yr & barely escaped recession in d 2nd Qtr by growing just 0.1%.
5. Brazil 🇧🇷
The largest South American economy shrank 0.2% in the 1st Qtr and is expected to show negative growth again in the 2nd Qtr when the official data comes out at the end of August marking a recession.🇧🇷 has struggled to sell goods overseas and a sluggish demand at home
Brazil’s central bank has cut interest rates, and President Jair Bolsonaro’s government is giving out cash payments to workers in an effort to stimulate growth.
Argentina is in crisis. It’s already in a recession, and it appears to be getting worse. On Monday, its stock market dropped nearly 50%, the 2nd largest 1-day crash any nation has experienced since 1950. The country is experiencing rapid inflation and price hike,
& Investors fear Argentina won’t be able to repay its debts, and middle-class Argentines are fearful they won’t be able to afford everyday products as the value of the Argentine peso keeps dropping, especially against the U.S. dollar.
🇸🇬 reported that its economy contracted 3.3% in the 2nd Qtr, a reversal from over 3% growth in d 1st Qtr. Singapore blamed the US-China trade war for its problems, as its economy is heavily reliant on exports to especially the duo countries.
8. South Korea 🇰🇷
SK managed to avoid a recession in the 1st half of the year - barely. It's economy shrank 0.4% in the 1st Qtr but rose 1.1% in the 2nd Qtr, a better-than expected performance that many experts don’t think will last. Amidst a trade war with Japan 🇯🇵 ,
It'll be harder for SK to sell electronics and cars abroad. Its central bank lowered interest rates,but it’s unclear if that will be enough. Electronics exports are down about 20% in recent months, and semiconductor exports are down more than 30‰, according to ING.
9. Russia 🇷🇺
A Russian economic Inst. warned last week that it could be in a recession by the end of the yr after growing a modest 0.7% in the 1st ½ of 2019. Russia has struggled since 2014 as oil prices plummeted & sanctions on 🇷🇺 because of its military actions in Ukraine