Report
Is it normal that pessimism is taking hold?
Many signs of pessimism are appearing: weak growth expectations (in Europe, emerging countries and China), falling share prices and oil prices, downturn in investment (in the United States, Europe, emerging countries and China), declining housing construction (in the United States, Europe and China), etc. Is it normal that pessimism is taking hold? Beyond political and geopolitical explanations, there are a number of economic explanations for this pessimism: the saturation of needs (for capital goods, durable goods, cars, housing); the very high level of hiring difficulties as unemployment returns towards the level of structural unemployment, which will inevitably slow grow and employment in OECD countries, the low growth in labour productivity (in OECD countries) and therefore in real wages; excessive debt; the lack of countercyclical leeway for economic policies; the concern - even irrational - about the rise of protectionism, etc.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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