Bulletin from Bordeaux: Axa’s chief economist on the global economy
In a series of special reports, Emmanuel Kenning reports from Axa's Bordeaux media conference.
Eric Chaney, group chief economist at Axa, warned delegates at the conference that we face a bumpy economic ride but that ultimately we are heading toward a bright future.
He said there was "definitely something happening in the global economy - it is a correction, a significant correction.”
Mr Chaney cited the latest available data on global trade which revealed a fall of 2.5% and pointed out that previously global trade was a “faithful reflection of global recession” when a 21% fall was
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