The impending global recession will see sluggish growth or outright contractions in GDP in most major economies, with Europe faring the worst. Accounting for changes in trend growth over time, we think that the depth of the global downturns in the 1990s are most comparable to the current situation. We are forecasting a relatively swift global recovery, but the risks are skewed toward a more protracted downturn.
Global Economics Drop-In (8th November): The global economy is heading for recession as tightening bites. Join this 20-minute online briefing to find out which economies will be hit hardest, the outlook for inflation and central bank actions, and the downside risks ahead. Register here.
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