The slowdown in global economic growth is increasingly evident, according to global data from the Purchasing Managers Index (PMI)
Global economic growth is facing a unique mix of headwinds, including Russia's invasion of Ukraine, interest rate hikes to contain inflation, and lingering effects of the pandemic such as lockdowns in China and disruptions in supply chains. In turn, the latest IFM World Economic Outlook lowered the global growth forecast for next year to 2.7%, and countries representing more than 1/3 will contract this year and next. Moreover, the latest report prepared for the G20 confirms the gloomier outlook.
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