Although consumers are mostly
optimistic, they may be more cautious about spending as uncertainties on trade
and geopolitical imbalances rise. The investment outlook is not promising
either, and GDP growth in the first half of 2019 has been weak across large
economies, with an especially weak contribution from investment. Looking ahead,
the manufacturing and investment outlooks are bleak. The purchasing
managers' index has eroded in India and is in contraction in other large
markets. Leading economic indexes suggest waning growth momentum in China and
India, and significant weakening in the outlook in Brazil and Mexico.