Monday, November 9, 2015

A.P. Moeller-Maersk CEO: Global economy slowing down

FXStreet (Bali) - Nils Smedegaard Andersen, chief executive officer at A.P. Moeller-Maersk, world’s largest shipping line, notes that the global economy is slowing down at a faster pace than official forecasters anticipate.

As Bloomberg reports, "A.P. Moeller-Maersk company, owner of the world’s biggest shipping line, is a bellwether for global trade, handling about 15 percent of all consumer goods transported by sea."

"Trade is currently significantly weaker than it normally would be under the growth forecasts we see", notes Nils Smedegaard Andersen.

Andersen expands: "We conduct a string of our own macro-economic forecasts and we see less growth -- particularly in developing nations, but perhaps also in Europe -- than other people expect in 2015. Also for 2016, we're a little bit more pessimistic than most forecasters."
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