SINGAPORE (July 5): Markets were left reeling after Britain’s vote on June 23 to leave the European Union shocked the world. But Natixis’ chief market strategist David Lafferty says the longer-term dynamics holding back the global economy remain largely unchanged – with or without Brexit.
Demographic headwinds, poor labour force dynamics, low productivity, and high debt levels have combined to send estimates of global real GDP stumbling to close to 2.5%, from just over 3% in the first half of the year.
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