UN forecasts lower global economic growth for 2022 and 2023

By EDITH M. LEDERER
Associated Press

UNITED NATIONS (AP) — The United Nations is forecasting lower global economic growth for 2022 and 2023. It says this is because the world is facing new waves of coronavirus infections, persistent labor market challenges, lingering supply chain issues and rising inflationary pressures. The U.N.‘s global economic forecast released Thursday says the global economy grew 5.5% in 2021 — the highest rate of global economic growth in more than four decades. But it’s projected to grow only 4% in 2022 and 3.5% in 2023. The report says last year’s recovery slowed considerably by the end of 2021.