The Economic Update, presenting the current economic environment across the globe and the outlook by Atradius Economic Research.

The economic impact of USMCA on Mexican-US trade is likely to be limited, as it is effectively a small modification of the pre-existing NAFTA agreement.

Trade policy uncertainty is one of the top risks to US businesses and consumers in 2019 that may bring the next downturn on more quickly than expected.

Despite a forecast growth slowdown in 2019 the economy should still experience positive momentum, with low unemployment and manageable inflation.

Many producers are under pressure to either expand/grow or refuse orders, while difficulties in hiring skilled staff impacts further business expansion.

GDP growth is expected to slow down to about 1.5% in 2017 and 2018, as lower revenues from oil and gas exports negatively impact government investments.

Despite the ongoing fragility a GDP rebound is forecast in 2017, and while some industries are expected to benefit from it, others remain subdued.

Despite decreases the level of payment delays and insolvencies will remain high in 2017 as a full-scale rebound is not expected for the time being.

The recovery of the construction sector has finally gained some momentum, but competition remains fierce, and prices and profitability are still low.

Despite continued growth during the last ten years and a benign outlook the level of building activity seen in the 1990s has not been reached again.