GLOBAL ECONOMY
<strong>Recession risk rising</strong>
The probability of the world economy succumbing to a recession is nearing 50 percent as central banks tighten monetary policy and demand for goods weakens, Citigroup Inc said yesterday. Supply shocks continue to push up inflation and drive down growth, while central banks are hiking interest rates vigorously and consumer demand for goods is softening, the economists led by Nathan Sheets said in a report. Citigroup now sees the world economy growing 3 percent this year and 2.8 percent next year. The economists said if a recession did occur, unemployment would rise several percentage points and output
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