South Africa on weak footing amid global recession fears: A deep downturn is unlikely, analysts say. But, if it does happen, another recession will be even more difficult to recover from
If a global recession does unfold, it will be the fourth in three decades, each of which rippled through South Africa’s economy. Another downturn will be no different — and may be even more difficult to recover from than the last, the pandemic-driven recession.United States Federal Reserve
The US central bank, which once maintained that elevated prices would be a blip, has turned more hawkish towards inflation, which hit 8.6% in May, the highest reading since 1981. If the US goes into a prolonged recession, trade and financial market linkages with other major economies will be put in jeopardy, causing a spillover into the global economy., US policymakers revised the world superpower’s GDP growth down from 2.8% to 1.7% in 2022, as global supply constraints continue to bear down on demand. The unemployment rate is projected by all but one official to rise over the next two years.
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