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World Bank cuts 2023 economic growth forecasts, warns of global recession
The World Bank slashed its growth forecasts for most countries and regions, and warned that new adverse shocks could tip the global economy into a recession.
Global gross domestic product will probably increase 1.7% this year, about half the pace forecast in June, the Washington-based lender said Tuesday.
That would be the third-worst performance in the last three decades or so, after the contractions of 2009 and 2020. Read more…
Luxury carmakers likely to see faster electric vehicle transition
Adopting electric vehicles (EVs) is likely to be faster in the luxury vehicles segment because buyers are less price-sensitive and market leaders like Mercedes-Benz India and BMW India expect double-digit growth in this category.
