A sharp and sustained fall in the US dollar against other major currencies could turn into a recessionary shock for the global economy outside the United States, according to an analysis highlighted in a report by BofA Securities.
There is growing concern that the global economy may be heading toward a slowdown, with some experts even warning about the possibility of a recession.
Further underscoring the mounting challenges faced by the Chinese economy, the consumer prices slid deeper into deflationary territory last month, suffering the biggest drop since the global recession in 2009.
Das said, "The global economy continues to face multiple macroeconomic and geopolitical shocks. The prediction of a global recession has not come true but there are indications that global growth is slowing down amid tightening financial conditions and still elevated inflation. Even as the f
Fitch Ratings has raised the global growth forecast for 2023 to 2.4 per cent from its March estimate of 2.0 and noted that economic activity the world over is holding up better than as was expected.
India's overall exports, both merchandise and services combined, in May 2023 are estimated to be USD 60.29 billion, about a 6 per cent decline over May 2022, official data revealed on Thursday.
The US central bank said 23 banks will be tested this year against a severe global recession with heightened stress in both commercial and residential real estate markets, as well as in corporate debt markets.
The global financial market information and analytics services provider expects the policy rates to remain in place throughout 2023 in order to dampen overall inflation expectations.
Foreign investors are apparently cautious amid risks of the potential return of Covid, besides looming global recession worries as flagged by various agencies.
The subdued market sentiment is due to the possibility of slowing global economic growth this year and the latest pulling out of funds by foreign portfolio investors (FPIs) from Indian stocks.