{"id":7715,"date":"2022-11-23T08:43:05","date_gmt":"2022-11-23T03:13:05","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=7715"},"modified":"2025-03-28T22:26:23","modified_gmt":"2025-03-28T16:56:23","slug":"global-slowdown","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/global-slowdown\/","title":{"rendered":"Global Slowdown"},"content":{"rendered":"<h2><strong>About <\/strong><strong>Global Slowdown<\/strong><strong>:<\/strong><\/h2>\n<ul>\n<li>Global growth has seen falling from\u00a0<strong>1% in 2022 to 2.2% in 2023.<\/strong><\/li>\n<li>According to OECD, the global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest.<\/li>\n<li>With energy prices likely to remain high, the\u00a0<strong>OECD said central banks should keep raising interest rates to fight inflation, with signs that early hikes in Brazil and the United States were paying off.<\/strong><\/li>\n<li>National outlooks vary widely, with the U.K.\u2019s economy set to lag major peers.<\/li>\n<li>The OECD said the global slowdown was hitting economies unevenly, with Europe bearing the brunt as Russia\u2019s war in Ukraine hits business activity and drives up energy prices.<\/li>\n<li>It forecast that the\u00a0<strong>19-country euro zone economy would grow 3.3% this year<\/strong>\u00a0then slow to 0.5% in 2023 before recovering to expand by 1.4% in 2024.<\/li>\n<li>That was slightly better than the OECD\u2019s September outlook, when it estimated 3.1% growth this year and 0.3% in 2023.<\/li>\n<li>The U<strong>.S. economy was set to hold up better<\/strong>, with growth expected to slow from 1.8% this year to 0.5% in 2023 before rising to 1.0% in 2024.<\/li>\n<li><strong>China<\/strong>, which is not an OECD member, was one of the few major economies expected to see growth pick up next year after a wave of COVID lockdowns.<\/li>\n<li>Growth there was seen rising from 3.3% this year to 4.6% in 2023 and 4.1% in 2024, compared with previous forecasts for 2022 of 3.2% and 4.7% for 2023.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n","protected":false},"excerpt":{"rendered":"<p>Global growth has seen falling from 1% in 2022 to 2.2% in 2023.<\/p>\n","protected":false},"author":5,"featured_media":7716,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-7715","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=7715"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/7716"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=7715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=7715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=7715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}