In Davos, Switzerland, the world of snow and icicles, the World Economic Forum’s annual meeting was held last week. Quarterly, my firm publishes a survey and sends it to 4,000 local business owners for what is called the Berkshire Business Confidence Index, or BCI (which, coincidentally is going out this week). It’s a formal assessment of owner confidence and intentions. Davos’ WEF is an informal assessment of more than a thousand global leaders and business titans.
The head of the International Monetary Fund, Christina Lagarde, chaired a panel called Global Economy in Transition, and she summed it up pretty well in the above graphic. The global economy is weakening but likely will avoid a recession in 2019.