Which Countries Escape The Economic Gloom?
Global Growth Forecasts For 2023
January 11, 2023—The global economy is "perilously close to falling into a recession," the World Bank warned yesterday, with a forecast that projects 1.7 growth for the world. That projection is down significantly from the bank's forecast last June. Persistently high inflation, rising interest rates, and weakening confidence are bringing growth estimates down in an atmosphere of gloom.
"The global economy is on a razor's edge. Even a small shock can trigger an outright recession," said Ayhan Kose, director of the World Bank’s Prospects Group. "The slowdown is a very sharp one, and it is broad-based."
Economic Growth Continues
While that is gloomy news, it might not be as bad as it sounds. For instance, a lot of economies are likely to continue...