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U.N. trade body forecasts sluggish global economy as inequality widens

A new report says the world's marketplace appears to be growing at a modest rate that's defined as a global recession.

(AN/Henry Perks/Unsplash)

Global economic growth is expected to drop to 2.4% this year, down from 3% last year, and shows little sign of rebounding next year, says a new forecast from the United Nations Conference on Trade and Development.

The global economic landscape is "characterized by growing inequalities and divergence of growth paths between key regions," UNCTAD says in its 103-page "Trade and Development Report 2023" on Wednesday.

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