(Bloomberg) –The UK economy contracted last quarter for the first time since early 2021 in what is likely the start of a prolonged recession, while prospects for the euro area also darkened under the weight of inflationary pressures.
In the US, consumer prices rose by less than forecast and suggested the Federal Reserve will be able to tone down its aggressive interest-rate hikes should inflation continue to moderate. China’s Covid-Zero policy and global recession concerns took a toll on the country’s two-way trade.
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:
Europe
Bloomberg
The UK economy shrank in the third quarter for the first time since the final lockdown of the pandemic as the cost-of-living crisis squeezed spending. Gross domestic product fell 0.2%, marking the start of what is expected to be a protracted recession. Britain is the only Group of…