The global economy is in the grips of a serious slowdown, with some key economies at high risk of recession and only sparse meaningful cooling in inflation over the next year, according to Reuters polls of economists.
Japan's factory activity growth slowed to a four-month low in June as China's COVID-19 curbs disrupted supply chains, while many other economies in Asia were also facing headwinds amid growing risks to the outlook from a potential US recession.
Global uncertainty is surging from the Russia-Ukraine war, which may slow economic growth this year, noted the International Monetary Fund (IMF) in its blog post, citing the latest reading of an index.
The global economic output is set to surpass $100 trillion in 2022, two years earlier than previously forecast, said a report by the Centre for Economics and Business Research (CEBR)