Charting the Global Economy: World Growth Forecasts Slashed

Economists from Wall Street to the World Bank are increasingly convinced most parts of the world will be in a recession this year against a backdrop of sticky inflation and higher interest rates.

Global gross domestic product will probably increase 1.7% this year, about half the pace forecast in June, according to the Washington-based lender. That would be the third-worst performance in the last three decades or so, after the contractions of 2009 and 2020.