EFTA01377067.pdf

CIO Insights -August 2016 Tables 15 Macroeconomic Forecasts 2016F 2017F GDP growth (%) U.S." 1.8 2.0 Eurozone 1.4 1.2 U.K. 1.3 0.8 Japan 0.5 0.7 China 6.3 6.0 Consumer price inflation (%) U.S.• 1.6 1.8 Eurozone 0.3 1.6 U.K. 0.7 2.6 Japan -0.2 0.2 China 2.0 1.5 Current account balance f% of GDP) U.S. -2.7 -2.8 Eurozone 2.9 2.7 U.K. -3.9 -3.5 Japan 2.8 2.5 China 2.5 2.5 Fiscal balance (% of GDP) U.S. -3.0 -3.2 Eurozone -1.9 -1.9 U.K. -3.3 -3.3 Japan -6.0 -5.2 China -2.4 -2.5 F = Forecasts. Please see risk warnings for more information. Forecasts are based on assumptions, estimates, opinions and hypothetical models or analysis which may prove to be incorrect. No assurance can be given that any forecast or target will be achieved. Past performance is not indicative of future returns. • For the U.S., inflation measure is core PCE Dec to Dec %. Forecast for U.S. Headline PCE IDecrDec) is 1.4% in 2016 and 1.9% in 2017. Source: Deutsche Bank Wealth Management. As of August 1, 2016. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0073608 CONFIDENTIAL SONY GM_00219792 EFTA01377067