Euler Hermes World Agency Economic Update
In this edition of their Economic Update, Euler Hermes share their economic insights on Brexit and US Corporate Leverage. Additionally, they also offer the Weekly Export Risk Outlook and The View: Year of the Pig.
Brexit is proving much harder to tame than a Shakespearian shrew. As expected, on January 15th, the UK House of Commons rejected Theresa May’s Brexit deal. Only 202 out of 650 votes of MPs were favourable (31%).
Between 2009 and Q3 2018 the US total debt has declined from a peak representing 350% of GDP in Q1 2009 to 311.5% in Q3 2018. While the US as a whole has been deleveraging, the business sector has re-leveraged, standing at 72.6% of GDP or USD 15 trillion today.
Towards early elections in Spain, Exports held the line for France, Preparations for new sanctions in Russia and more headlines are available in our Weekly Economic Risk Outlook.
Born in late 2013, the Belt and Road Initiative (BRI) is a development and cooperation strategy launched by China. It includes 80+ countries mainly from Asia, Europe and Africa and spans an area accounting for nearly 36% of global GDP, 68% of world population, and 41% of global trade.