UN Forecasts Slowdown in Global Economic Growth
The United Nations revises down its economic growth projections amid rising trade tensions and geopolitical instability.
The United Nations has projected a slowdown in global economic growth for the current year and the next, citing the impact of increased U.S. tariffs and escalating trade tensions.
Economic experts within the international organization outlined the current geopolitical volatility, highlighting threats stemming from rising production costs, supply chain disruptions, and financial instability.
Shantanu Mukherjee, Director of the Economic Analysis and Policy Division of the UN Department of Economic and Social Affairs, remarked on the pervasive uncertainty affecting global markets.
During the mid-year forecasts' launch, he stated, "There is a lot of uncertainty on the horizon these days." Mukherjee further noted that the global economy has encountered significant challenges, recalling that just in January, the forecast anticipated two years of stable, albeit below-par, growth.
However, expectations have since diminished, coinciding with considerable fluctuations across various dimensions.
The UN now forecasts global economic growth rates of 2.4% for this year and 2.5% for the next, reflecting a decrease of 0.4 percentage points for both years compared to its earlier projections in January.
Economic experts within the international organization outlined the current geopolitical volatility, highlighting threats stemming from rising production costs, supply chain disruptions, and financial instability.
Shantanu Mukherjee, Director of the Economic Analysis and Policy Division of the UN Department of Economic and Social Affairs, remarked on the pervasive uncertainty affecting global markets.
During the mid-year forecasts' launch, he stated, "There is a lot of uncertainty on the horizon these days." Mukherjee further noted that the global economy has encountered significant challenges, recalling that just in January, the forecast anticipated two years of stable, albeit below-par, growth.
However, expectations have since diminished, coinciding with considerable fluctuations across various dimensions.
The UN now forecasts global economic growth rates of 2.4% for this year and 2.5% for the next, reflecting a decrease of 0.4 percentage points for both years compared to its earlier projections in January.
