Latest news in world economy

Here are some of the latest news and developments in the world economy:

Global Economy

• The International Monetary Fund (IMF) has downgraded its global economic growth forecast for 2023 to 3.2%, citing rising inflation, supply chain disruptions, and the ongoing COVID-19 pandemic. (Source: IMF)
• The World Bank has also cut its global growth forecast to 3.1% in 2023, citing similar concerns. (Source: World Bank)

United States

• The US Federal Reserve has raised interest rates by 0.25% to combat inflation, which has risen to a 40-year high. (Source: Federal Reserve)
• The US economy grew at an annual rate of 2.1% in the fourth quarter of 2022, according to the Bureau of Economic Analysis. (Source: BEA)
• The US unemployment rate fell to 3.6% in January, the lowest level since 1969. (Source: Bureau of Labor Statistics)

Europe

• The European Central Bank (ECB) has raised interest rates by 0.5% to combat inflation, which has risen to a 13-year high. (Source: ECB)
• The UK economy contracted by 0.2% in the fourth quarter of 2022, according to the Office for National Statistics. (Source: ONS)
• The eurozone economy grew by 0.1% in the fourth quarter of 2022, according to the European Commission. (Source: European Commission)

Asia

• China's economy grew by 4.8% in the fourth quarter of 2022, according to the National Bureau of Statistics. (Source: NBS)
• Japan's economy contracted by 0.6% in the fourth quarter of 2022, according to the Ministry of Finance. (Source: MOF)
• India's economy grew by 8.7% in the fourth quarter of 2022, according to the National Statistical Office. (Source: NSO)

Emerging Markets

• Brazil's economy grew by 1.2% in the fourth quarter of 2022, according to the Brazilian Institute of Geography and Statistics. (Source: IBGE)
• Russia's economy contracted by 2.5% in 2022, according to the Russian Federal State Statistics Service. (Source: Rosstat)
• South Africa's economy contracted by 0.7% in the fourth quarter of 2022, according to the South African Reserve Bank. (Source: SARB)

Trade and Tariffs

• The US and China have agreed to a phase-one trade deal, which will reduce tariffs on certain goods and increase US agricultural exports to China. (Source: US Trade Representative)
• The US and the European Union have agreed to a new trade deal, which will reduce tariffs on certain goods and increase US agricultural exports to the EU. (Source: US Trade Representative)
• The US has imposed tariffs on steel and aluminum imports from several countries, including Canada, Mexico, and the EU, citing national security concerns. (Source: US Commerce Department)

These are just a few of the latest news and developments in the world economy.