Bulletin from Bordeaux: Axa’s chief economist on the global economy

Light at the end of the tunnel

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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