Global Economy Shows Signs Of Improving

Surveys from S&P Global show signs of economic improvement in the U.S., U.K., and Eurozone, reducing risks of a global recession. As supply chains ease, raw material and component costs rose at the slowest pace since the fall of 2020. However, wages remain high. A mild winter in Europe reduced energy consumption, reducing high energy costs. The International Monetary Fund raised its estimate of global growth in 2023 to 2.9 percent, up from 2.7 percent, and said it saw less chance of recession. The fund cited resilient demand, easing inflation, and China’s reopening for improved conditions.