![]() However, that fall has not translated into similar declines in most supermarkets for most consumers. Only today, the UN’s food agency ( FAO) price index, showed another fall, 20 per cent down on the worrying high of a year ago. He said inflation was still stubbornly high, more than expected by the markets, while falling inflation was mainly due to falling energy and food prices. Once again, downside risks dominate and the fog around the world economic outlook has thickened.” ![]() The IMF Director, who also serves as Economic Counsellor, warned that as the recent instability triggered by the collapse of Silicon Valley Bank and others, shows “ the situation remains fragile. In contrast, despite a 0.5 percentage point downward revision, many emerging market and developing economies are picking up, with growth accelerating to 4.5 percent by the end of 2023 from 2.8 percent at the close of 2022. He said this year’s economic slowdown is concentrated in advanced economies, especially the Eurozone and in the United Kingdom, “where growth is expected to fall to 0.8 percent and -0.3 percent this year before rebounding to 1.4 and 1 percent respectively.” Pierre-Olivier Gourinchas said the gradual global recovery from both the pandemic and Russia’s invasion of Ukraine “remains on track”, with China’s reopened economy rebounding strongly, while previously disrupted supply chains are unwinding. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |