Negative sentiment has cast a cloud over the global economic outlook in recent months. It is a far cry from where we hoped we would be, when many developed markets began opening up towards the end of 2021, with a sense of relief that the worst of the pandemic was behind us. But better times are not quite upon us.
COVID-19-related supply chain disruptions and the Ukraine crisis have led to surging food, commodity and energy prices globally. At the same time, interest rates around the world are rising from the record lows during the pandemic. Consequently, we have witnessed weaker corporate and consumer sentiments threatening to derail any fledging economic recovery. The fear of recession in some markets is looking very real indeed.
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