If the 2010s was the decade of change and upheaval, the 2020s is likely to continue the trend of unpredictability to be the decade of uncertainty.

In the spirit of prediction season, Vanguard joins the chorus of voices advising investors to temper expectations for 2020 and beyond. The 2020 Vanguard economic and market outlook finds that growth is faltering across the globe – the US is forecast to decelerate below trend to around 1 per cent, China is likely to grind to a below-trend pace of 5.8 per cent and in Europe growth has been weak at 1 per cent and is expected to remain sluggish.