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Many Major Economies to Hit Recession in Next Year, Nomura Says

  • EU, UK, Japan, Korea, Australia, Canada all seen contracting
  • Says central banks will err on side of too much tightening

Many major economies will enter recessions over the next 12 months amid tightening government policies and rising living costs, pushing the global economy into a synchronized growth slowdown, according to Nomura Holdings Inc.

The brokerage expects the euro zone, the UK, Japan, South Korea, Australia and Canada to fall into recession along with the US, Rob Subbaraman and Si Ying Toh at Nomura said in a research note.