Slowdowns in the world¡¯s two biggest economies ¡ª the United States and China ¡ª are likely to be larger than expected this year, dragging down output on every continent and reducing global growth, a new report warned Tuesday.
Higher inflation, supply chain chokepoints, and pandemic-related shutdowns and worker shortages continue to afflict rich and poor nations, the International Monetary Fund wrote in its latest World Economic Report.
¡°The global economy enters 2022 in a weaker position than previously expected,¡± the fund said in reducing its estimated global growth rate to 4.4% from the 4.9% it projected just three months ago.
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