"The global economy has gone 15 consecutive years without a widespread recession, apart from the brief pause caused by the pandemic, despite the serious polycrisis that has threatened it since 2020. Covid-19 was followed by the worst inflationary surge in 40 years, which central banks combated with an abrupt increase in interest rates. The Russian invasion of Ukraine triggered a severe energy shock in Europe, and upon returning to the White House, Donald Trump declared a global trade war."
"Global growth will maintain a cruising speed of 3%, according to the International Monetary Fund (IMF), with differences between the United States (1.9%) and the Eurozone (1%), of course. The U.S. stock market and global indices are at record highs, and unemployment in the developed world is at a low. The impact of the tariffs has been less than feared. Businesses and investors have adapted to the unstable climate after years of experience navigating all sorts of challenges,"
The global economy has avoided a widespread recession for 15 consecutive years, apart from the pandemic, despite a string of major shocks since 2020. Covid-19 triggered the largest inflation surge in four decades, prompting central banks to raise interest rates sharply. The Russian invasion of Ukraine caused a severe energy shock in Europe, and renewed trade tensions increased tariffs. The IMF projects about 3% global growth with notable regional differences (United States ~1.9%, Eurozone ~1%). Equity markets are at record highs, unemployment in developed economies is low, and governments have deployed large stimulus and aid measures.
Read at english.elpais.com
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