The World Trade Organization (WTO) has downgraded its forecast for global GDP growth in Financial Year 2022 to 2.8 percent from the previously predicted 4.1 percent.
World merchandise trade volume is expected to grow 3.0% in 2022 (down from 4.7% previously) and 3.4% in 2023, but these figures may be subject to revision due to uncertainty about the course of the conflict in Ukraine.
The Reserve Bank has launched the next round of the quarterly Industrial Outlook Survey (IOS) to assess business sentiment for the current quarter and expectations for the ensuing three-month period.
EXAMIANS