GROWTH IMPULSE FROM FISCAL POLICY & FINANCIAL CONDITIONS IS DECELERATING

What was until a few months ago a "global coordinated recovery", has since turned into "decoupling" where the US remains the only economy growing above trend, with both the EU and China suffering from a recent decelerating.

As  many economists will attest, the only reason US growth remains solid, is due to the Trump's fiscal stimulus, which however is set for a painful reversal in just about a year as Goldman recently observed.