Moody’s: Global growth forecasts slip amid Russia-Ukraine war, China lockdowns

Global growth forecasts slip with Russia’s invasion of Ukraine and China lockdowns, Moody’s Investors Services highlighted in its latest report published on Thursday.

Additional takeaways

Advanced economies will expand 2.6% in 2022 and emerging market countries will grow 3.8%, down from march forecasts of 3.2% and 4.2%.

Currently high inflation rates could persist for several more months, owing to elevated energy and food prices.

Except for Russia, do not currently expect a recession in any G-20 country in 2022 or 2023.

Risks that could further reduce forecasts include escalation of Russia-Ukraine conflict, faster-than-expected slowdown in China’s growth.