The global economy is predicted to register a slower growth this year, continuing the trend from last year, with the United States poised to mark a smaller pace of growth and several countries likely to see a “mild recession,” according to the United Nations.
Global economic growth in 2023 is projected to be 1.9 percent, slower than the 3 percent growth in 2022 and the 5.8 percent growth in 2021, according to a Jan. 25 U.N. report. Developed economies are estimated to register a growth rate of 0.4 percent this year, down from 2.6 percent last year and 5.2 percent the year before. The expected growth rate of the United States is set at 0.4 percent, down from 1.8 percent in 2022 and 5.7 percent in 2021.
