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Barclays cuts US economic growth forecast to 2.2% in 2022 and 1.1% in 2023, from 3.5% and 2.3%, respectively; euro area's economy expected to be in recession in Q4 2022 and Q1 2023, with only 0.5% growth in 2023, down from previous forecast of 2.1% growth

Deutsche Bank: US heading for earlier and deeper recession than previously expected, as economy is likely to shrink at annualized rate of 3.1% in Q3 2023 and by 0.4% in Q4 2023; as economy slows, unemployment set to jump from 3.6% to peak at 5.5% in 2024

Nomura predicts US recession sometime around end of 2022 and US economy likely to contract by 1% in 2023 compared with earlier prediction of 1.3% growth; inflation likely to remain elevated throughout 2022

BofA cuts China's 2022 economic growth forecast to 3.5% from 4.2% due to strict zero-Covid policies, but lifts 2023 GDP forecast to 6% from 5% on expectation that no major city will be under full lockdown and government will relax Covid curbs in November

NY Fed projected probability of a hard landing for US economy at 80% compared to 10% for a soft landing; economy expected to grow less than 1% in H1 2023, likely to contract in Q3 2023

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