HSBC Global Forecast Downgrades Due To Concerns In Emerging Markets

HSBC Global Research revised down its global growth forecast to 2.0 percent for 2013 and 2.6 percent for 2014, according to Stephen King, HSBC’s chief economist, and Madhur Jha, HSBC’s global economist, in their third quarter global outlook.

HSBC Concerns in Emerging Markets

The downgrade was due to concerns about the outlook in developing countries, it said. The new figures shaved 0.8 and 0.5 percentage points respectively off its 2013 and 2014 projections. Monetary uncertainty in the United States is bad enough, but due to a slowing Chinese economy, the overall picture is even worse, stressed the HSBC.

“While dominated by...