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Global Economic Outlook for Q3 2023 – Differentiated Recovery, Falling Inflation and Continued Risks
In the second quarter of 2023, the downward momentum of the global economy will slow down, and inflation will continue to fall, but the characteristics of recovery differentiation will become increasingly prominent. The global service industry has recovered steadily, and economies such as Europe and the United States, where consumption accounts for a large share of GDP, have performed better than expected. In stark contrast, the recovery of the global manufacturing and merchandise trade sectors is weak, and the growth of export-oriented economies such as Asia-Pacific is under pressure. Major central banks such as Europe and the United States continued to raise interest rates, the U.S. dollar index and U.S.…
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3 Major Troubles Threatening the Global Economy
European and American stock markets have indeed performed well, but troubles behind them have gradually emerged. According to Reuters, talks between UPS and the International Brotherhood of Truckers have stalled. A think tank specializing in the study of United Parcel Service (UPS) said that the UPS strike may be “one of the most expensive strikes in at least a century”, and the loss of 10 days of shutdown will be as high as 7 billion U.S. dollars (equivalent to nearly 50 billion yuan. Yuan). In addition, according to the “New York Times” report on July 13, the American Screen Actors Guild and the United Radio and Television Artists Union (SAG-AFTRA)…
