There is precious little optimism right now: US consumer confidence is nearly at a record low.
Paris:
This year was supposed to confirm the world economy’s comeback from the Covid pandemic crisis. Instead, the six-month-old war in Ukraine has sparked fears of recession.
Two ‘small’ economies rattle world
“Six short months ago the macro landscape was markedly different from today,” the financial data firm S&P Global said in a recent report.
Both the United States and eurozone economies were expected to see strong growth, and elevated inflation levels were seen by policymakers and markets as transitory.
“Things have changed, and not for the better,” added S&P Global.
Global growth forecasts have been repeatedly cut, with the International Monetary Fund now expecting a 3.2 percent expansion compared to nearly five percent earlier.
Russia and Ukraine together account for just two percent of global output and trade, according to the…
