PHOENIX, AZ—At the Lodging Conference in Phoenix, Bernard Baumohl, the chief economist at the Economic Outlook Group, gave an economic update that got right to the point, immediately addressing the most talked about issue in the global economy: China.

“Are we going to see a drag in global economic growth and will it affect the US economy,” he asked. The answer to the former, “Yes, how could it not,” he said, noting that China contributed 25% to global GDP growth last year. He expects China’s slowdown to shave 3% from the global GDP. However, he said, this would not affect the US economy, which is still poised for 2.5% economic growth over the next two years. While that isn’t huge growth prospects, he said, “The US is the bright spot in the global economy. We don’t see typical stress points that foreshadow a recession.” We have several good years ahead of us.”

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