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Investing.com -- The United Nations Trade and Development agency (UNCTAD) said on Wednesday that global economic growth could slow to 2.3% due to ongoing trade tensions and uncertainty, potentially leading to a recessionary trend.
The agency’s projection for 2025 indicates a significant decrease from the 2.8% growth seen in 2024.
UNCTAD’s report on the trade and development outlook for this year highlighted this slowing trend.
According to the agency, this slowdown is a sharp contrast to the average annual growth rates seen in the pre-pandemic period.
The report noted that even before the pandemic, global growth was relatively subdued.
The UN agency’s forecast for 2025 is a stark reminder of the potential impact of trade tensions and economic uncertainty on the world’s economy.
The projection points to a possible recessionary path for the global economy if these issues persist.
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