Recessions

UN warns of lower growth for Latin America

Economic growth in Latin America and the Caribbean will be lower than expected at 1.8 percent this year due to the war in Ukraine, a UN body has said. 

In 2021, the region's gross domestic product (GDP) growth was 6.2 percent, and the UN Economic Commission for Latin America and the Caribbean (ECLAC) in January forecast growth of 2.1 percent for 2022.    

IMF cuts global GDP growth forecast to 3.6 pct amid war

The International Monetary Fund on April 19 downgraded the outlook for the world economy this year and next, blaming Russia's war in Ukraine for disrupting global commerce, pushing up oil prices, threatening food supplies and increasing uncertainty already heightened by the coronavirus and its variants.

German economy shrank less in Q4 than reported: official data

Germany's economy shrank at a smaller rate in the fourth quarter of last year than originally thought, despite the blows leveled by supply chain woes and the pandemic, official data showed on Feb. 25.

Gross domestic product in Europe's top economy slipped 0.3 percent in the last three months of 2021 compared to the previous quarter, the federal statistics office Destatis said.

13th evaluation: Positive conclusion – Alarm over uncertainty for inflation

The Commission emphasizes the positive prospects of the economy in its report on the conclusion of the 13th evaluation, while it sees the rise in energy prices as a source of uncertainty. It emphasizes, among other things, that Greece has recovered quickly from the pandemic and the prospects remain strong, although they are subject to high uncertainty.

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