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Global Economy Update

Ben Jones Lead Economist, CBI

Global economic activity slows but remains stable. We analyse the data.

26 Jul 2023, 4 min read

Global economic activity has remained reasonably resilient so far in 2023 in the face of persistently high inflation in many developed economies, and rising interest rates. However, recent data suggest that global momentum was slowing by the middle of the year.

With headline rates of inflation now firmly on a downward path across developed markets, interest rates appear close to peaking. However, the resilience of activity and strong services inflation and wage growth have heightened central bankers' concerns around “secon

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