EFTA Document EFTA01459656

CIO View Special 2. Are markets right to fear that this time around, a lower oil price is bad, rather than good news for much of the world economy? The short answer is that we do not think so. As things stand, we rema€n constructive for 2016. We now see global economic growth of 3.4% (reduced from 3.5% due to weakness in single emerging markets). We still think that the lower oil price will have a small, positive effect on growth in key economies, such as the Eurozone and the United Stat