Improving global growth environment - Wells Fargo

According to analysts from Wells Fargo, the global economy continues to show signs of improvement. They see a trade war as the biggest threat to the recovery.  

Key Quotes: 

“As the summer takes hold in the northern hemisphere and winter settles down in the southern hemisphere, the global economy continues to show signs of improvement with industrial and manufacturing production numbers moving higher across the world and global export growth following closely behind.”

“Although the expansion is not what many commodity exporters across the world would have wanted and what the global economy experienced during the first decade and a half of this century, it is a big positive difference from what the global economy has seen during the last several years.”

“Last month we saw further strengthening in industrial production in several European countries, particularly in Germany and France, the largest members of the Eurozone, which points to, perhaps, further strengthening of overall economic growth in the region.

“Perhaps the biggest threat to this global economic recovery is a trade war. Once again, trade has been leading the way in terms of the global economy and any threat to the consolidation of this process is probably going to affect the pace and the strength of global economic growth. So far, it is only the United States that has continued to talk about unfair trade and thus the discussion has remained contained. If something happens to trade, it could unsettle the recent improvement in export growth across the world, affecting one of the important drivers of economic activity today.”