Whatever your perspective of 2019 is, as we approach the year end many will reflect on the challenges experienced.
The levels of insolvency in the UK have increased close to those last seen in 2009. The question of Brexit and the outcome of the election continues to weigh heavily, and the uncertainty that we see in the Global economy raises more questions about what 2020 will bring. – Jonathan Smith
The value of Credit Insurance has proved itself to the supply chain in 2019, and we believe it will continue to do so next year as well.
Atradius’ latest Global Economic Outlook, Global economy set to experience a “remarkable slowdown”, reports that the global economy is losing steam, and forecasts that global GDP growth will increase by 2.5% in both 2019 and 2020 – compared to 3.2% measured in 2018. Key results also indicate that eurozone GDP growth is slowing – from 1.9% in 2018 to 1.1% in 2019/2020, the US economy is losing momentum with GDP growth easing from 2.2% in 2019 to 1.6% in 2020, while the UK is expected to see 1.3% growth in 2019 and 1.1% in 2020. Emerging markets are also facing a slowdown. Atradius notes that the world trade slowdown, made worse by the US-China trade conflict, is behind the deceleration.
TL Dallas is a leading provider of insurance solutions to protect against insolvency or default exposures and if you would like to talk about specific needs, export related or otherwise, we would welcome the opportunity to talk to you further.