Not pessimistic on global economy in medium term: S&P‘s Sheard

Paul Sheard, Chief Global Economist at S&P Ratings Services says, 2016 would likely end roughly in line with growth rates seen in 2015 but a lot also depends on the events unfolding in China.

“I don’t think there are grounds for being so pessimistic on global economy, at least in the medium term,” Sheard says.

On whether US seems to be heading into a manufacturing recession, Sheard points out that US is largely service-oriented economy and although some sectors like manufacturing and energy will remain subdued, the overall growth rate should remain similar to last few years.Watch video for more...