The IMF forecasts suggest that political uncertainty means many sectors will remain challenging for business in the next 2 years. Global economic forecasts can be an indicator of potential increases in insolvent businesses, with many failed businesses attributing their insolvency to loss of market, as reported in The Insolvency Service’s report on Causes of Compulsory Liquidations (https://www.gov.uk/government/statistics/ad-hoc-statistics-on-causes-of-compulsory-liquidations).
The International Monetary Fund (IMF) has cut its growth forecasts for the global economy for this year and next. It predicts growth of 3.2% in 2019, down from its April forecast of 3.3%. Growth next year is set to pick up to 3.5% next year, although that is below its earlier forecast of 3.6%. Growth "remains subdued", the IMF says, and there is an urgent need to reduce trade and technology tensions.