Recession or Not?

The IMF updated its global growth forecasts, cutting them from 3.6% to 3.2% for this year and from 3.6% to 2.9% for 2023 and omitted that the world could be on the verge of a recession, in amid stickier-than-expected inflation. The largest downward corrections occur in developed economies (USA and Europe), while countries that export raw materials improve their growth prospects, as in the case of Latin America, with an upward correction from 2.5% to 3 .0%, being driven by higher growth in Brazil (with an improvement in its estimate from 0.8% to 1.7%) and Mexico (from 2.0% to 2.4%)

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