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U.S., European Economies Slow Sharply as Recession Risks Grow

U.S., European Economies Slow Sharply as Recession Risks Grow #European #Economies #Slow #Sharply #Recession #Risks #Grow Welcome to Lopoid

The U.S. and European economies slowed sharply in June as surging prices of energy and food weakened demand for other goods and services, business surveys showed, increasing the risk of recessions around the world.

The new figures on manufacturing and services activity underline how dark the outlook has become in both Europe and the U.S. Russia’s war in Ukraine has hit global growth as high inflation spread across the globe. Economies also face continuing supply-chain disruptions and the prospect of rising interest rates that curb business investment. Europe faces additional pressure from a possible energy shortage this winter.

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