Euro area on the front lines in the world trade shock

Macroeconomic momentum has taken a severe downturn since the summer of 2018, as shown by the sharp and sudden slump in world trade since the start of the fall. Trade contracted slightly in January 2019 from a previous yoy growth figure of 4% at the time.

This very drastic downtrend is primarily attributable to Asia, as the region’s imports and exports have taken a clear plunge over the past several months. Meanwhile, other regions are seeing less dramatic trends and have not necessarily experienced this same deterioration in profile.