Curtis Wool Direct

Bank of America – global economy to bottom out next spring

Buy and sell wool 24 hours a day, 7 days a week from anywhere in the world. Click here.

Bank of America puts an end to the economic slowdown. The institution expects the global economy to bottom out next spring. The economic perspectives of the entity consider a progressive acceleration of the economy in the second half of 2020.


According to the bank, the global Gross Domestic Product (GDP) will grow above 3% in 2020, behind the growth rate of 3.8% of 2018. However, “several conditions have to be met,” said Rubén Segura Cayuela, chief economist for Europe of Bank of America.


As for Europe, growth “should stabilize at around 1%,” said the entity in its report. For the United States, Bank of America expects an average growth of 1.7% between 2020 and 2021.


“If the recession in the manufacturing sector continues, it will affect growth from the second half of the year, which could be reduced to 0.5% in Europe,” Segura explained. In addition, the economist mentioned a possible “spread” to other the services in the sector in countries such as Germany, which would lead consumers to build savings for “precautionary” reasons.


However, the Bank of America’s forecast reflects that the path to recovery has yet to be reached, taking into consideration that the trade war conflict between China and the United States slow down, and that exit agreement of United Kingdom from the European Union does not raise further complications.



Share This Article

Falkland Wool
New Zealand
South Africa
Wool Promotion
Buy Alpaca from
Wool & Specialty Fibre
Tops & Yarn Dyeing
Wool & Top Treatment 
Buy Yarn From
Textile Machinery
Wool Magazines

Interested in reaching buyers in China? Advertise in wool2yarn China magazine and reach major importers of wool and speciality fibre, topmakers, spinners, weavers and textile companies in China, in their own language, breaking down the language barrier. This publication is circulated to 5000 major textile companies in China, Hong Kong and Taiwan and is a buyer’s guide and information source for the year ahead. See More.

Reach buyers in 58 countries – advertise in wool2yarn global magazine. Published once each year (September) it is circulated to over 5000 textile companies. Readership includes importers of wool and speciality fibre, topmakers, spinners and weavers, manufacturers of yarn, knitwear, carpet, and blankets, producers and importers of fabrics, bedding products, garment manufacturers, and brands and retail chains. See more.

Wool Reports
Buy Wool, Wool Tops, Yarn Online
Wool Testing
Wool Grease
Wool Products Online
Second Hand Textile Machinery