KUALA LUMPUR, Sept 26 — Moody’s Analytics has revised its global real gross domestic product (GDP) forecast for 2022 and 2023 downward to 2.7 per cent and 2.3 per cent,...
KUALA LUMPUR, Sept 26 — Moody’s Analytics has revised its global real gross domestic product forecast for 2022 and 2023 downward to 2.7 per cent and 2.3 per cent, respectively.“While the global economy is projected to grow in 2022, any policy missteps or additional risks would increase the threat of a worldwide recession in the next 12 months above its current assessment of just over even odds,” Moody’s Analytics said in a note today.
“Record-high inflation in the US and Europe from supply shortages and surging commodity prices following Russia’s invasion of Ukraine are weighing on the global expansion and are compounded by an aggressive monetary policy response. As a result, Moody’s Analytics said global growth fell in the second quarter on an annualised basis for the first time since the depths of the virus outbreak in early 2020, driven by contractions in the US, the UK, and China.
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