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

The U.S. and European economies slowed sharply in June as surging costs of power and meals weakened demand for different items and providers, enterprise surveys confirmed, rising the risk of recessions all over the world.

The new figures measuring manufacturing and providers exercise underline how darkish the outlook has change into in each Europe and the U.S. as Russia’s war in Ukraine drags on, and with high inflation spreading throughout the board, supply-chain disruptions and the prospect of rising interest rates curbing enterprise funding. Europe faces further stress from a doable power scarcity this winter.