The world’s biggest economy — the US — is accelerating as the world’s second biggest economy — China — is decelerating.
For 2015, Nuveen’s Bob Doll predicts that the US economy will actually contribute more to global GDP growth than China. This would be the first time that’s happened in nine years.
“China is currently experiencing negative growth rates in imports and freight activity, and slowing growth in auto sales and electricity consumption,’ Doll says. “These trends are echoed in declining consumer confidence.”
China is just one of the many emerging markets slowing down, which has Doll predicting we could witness something that has been “unthinkable in recent times.”
“We also think it is possible that U.S. real growth will surpass that of the emerging market economies for the first time since 1999,” Doll said.
Check out this chart from Doll’s new must-read presentation.