Although the stream of bad news seems infinite, there are still some announcements that may hearten people from all over the world. Thus, some analysts suppose that the global economy has every chance to avoid recession.
According to the survey, in the next few months, the global economic situation is expected to be tense, but the likelihood of a global recession is minimal. There are no reasons to get ready for such a pessimistic scenario. Meanwhile, some ailments should be tackled as soon as possible. Thus, economists emphasize rising spending and a slowdown in economic growth. By the moment, most countries have already noticed the signs of stagflation, a situation when a surge in prices is accompanied by economic slackening. "There will be no sudden ‘after’ of stagflation," Simon Baptist, global chief economist at the Economist Intelligence Unit, said referring to a sudden recession after a period of stagflation. "Commodity prices will start to ease from next quarter, but will remain permanently higher than before the war in Ukraine for the simple reason that Russian supplies of many commodities will be permanently reduced," he added. Even if recession looms, people and businesses of many countries are likely to survive it more easily than previous global crises since they "have ample savings and have stocked up on household durables."
