Market Commentary
Economic Update
"We continue to expect global GDP growth of about 4% to 4.5% for both 2010 and 2011. The global growth rate may be close to the upper part of that range in 2010 due to the strong growth which has already taken place during the first few months of 2010, while the global growth rate in 2011 may be close to the lower part of the range, given recent indications of a slower pace of expansion in many countries. We expect sustained expansion worldwide."
Chief Economist Richard Hoey presents his
July 2010 Economic Update.
The statements and opinions expressed in Mr. Hoey's commentary are those of Mr. Hoey as of the date of publication, and do not necessarily represent the views of BNY Mellon or any of its affiliates. This commentary does not constitute investment advice, and should not be construed as an offer to sell or a solicitation to buy any security or make an offer where otherwise unlawful. To the extent this commentary may be deemed to be a financial promotion under non-US jurisdictions, it is provided for use by professional investors only and not for onward distribution to, or to be relied upon by, retail investors. Products and services may be provided in various countries by the subsidiaries and joint ventures of BNY Mellon. Each is authorized and regulated as required within each jurisdiction.
Our thought leadership materials are not intended as investment advice, but to the extent they may be deemed to be a financial promotion under non-US jurisdictions, they are provided for use by professional investors only and not for onward distribution to, or to be relied upon by, retail investors. Products and services may be provided in various countries by the subsidiaries and joint ventures of BNY Mellon. Each is authorized and regulated as required within each jurisdiction. This should not be construed as an offer or solicitation of securities or services or an endorsement thereof in any jurisdiction or in any circumstance that is otherwise unlawful or not authorized.
