Highlights
- The IMF has readjusted its worldwide growth forecast to 3.2% this year from a forecast of 3.6% in April.
- The UK is expected to see 0.5% Gross Domestic Product (GDP) growth next year, down from January’s forecast of 2.3% and 1.2% in April.
- Inflation rate in developed countries may touch 6.6% this year, up from the previous forecast of 5.7%.
The International Monetary Fund (IMF) in its worldwide growth forecast has cut down its growth rate to 3.2% this year, from its previous forecast of 3.6%. As the outlook has darkened significantly since April and major central banks are imposing tighter monetary policy, the IMF slashed its 2023 growth forecast from the April estimate of 3.6% to 2.9%.
According to IMF’s World Economic Outlook, the UK growth is expected to be slower than the G7 economies in 2023. The country is expected to see 0.5% Gross Domestic Product (GDP) growth next year, down from January’s forecast of 2.3% and 1.2% in April.
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The International Monetary Fund (IMF) in its global growth forecast has slashed its growth rate to 3.2% this year, from its previous forecast of 3.6%. As the outlook has darkened significantly since April and major central banks are imposing tighter monetary policy, the IMF slashed its 2023 growth forecast from the April estimate of 3.6% to 2.9%.
According to IMF’s World Economic Outlook, the UK growth is expected to be slower than the G7 economies in 2023. The country is expected to see 0.5% Gross Domestic Product (GDP) growth next year, down from January’s forecast of 2.3% and 1.2% in April.
Amid the increasing concern over the recession, let’s look at three FTSE stocks that did well in the global financial crisis of 2008-2009.
Unilever Plc (LON: ULVR)
One of the world’s most oversized fast-moving consumer goods (FMCG) company’s market cap stood at £102,754.11 million as of 27 July 2022. The company offers a wide range of food, home care, beauty & personal care, and food & refreshment products in over 190 countries. ULVR’s shares were trading at GBX 4,067.50, up by 0.88%, at 08:30 AM (GMT+1) as of 27 July. With a positive EPS of 2.33, its share value has appreciated by 0.54% over the last year, and its YTD return stood at 2.94%. Unilever’s P/E ratio stands at 20.68, and its annual dividend stands at 3.6%.
AstraZeneca Plc (LON: AZN)
One of the leading multinational biopharmaceutical company’s market cap stood at £170,752.83 million. The shares of one of the largest companies listed on the London Stock Exchange by market cap were trading at GBX 11,010.00, down by 0.09%, at 08:55 AM (GMT+1) as of 27 July. AZN’s share values have appreciated by 32.96% over the last year, and its YTD return stood at 26.80%.
British American Tobacco Plc (LON: BATS)
BATS has been one of the leading tobacco and cigarette manufacturing company all around the world. BATS’ market cap on Wednesday stood at £170,752.83 million. The tobacco industry has often been one of the relatively steadier industries despite inflationary situations.
British American Tobacco’s shares were trading at GBX 3,465.50, down by 0.16%, at 09:15 AM (GMT+1) as of 27 July. With a positive EPS of 2.97, its share value has appreciated by 25.06% over the last year. British American Tobacco’s P/E ratio stood at 12.00, and its annual dividend stands at 6.3%.
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