Wednesday, May 31st, 2023

India 0, China 12.5, America 65 and UK 75… India is proud of this scoring, know what is the matter

New Delhi: Another bank collapses in America. In the last two months, three big banks have drowned in the country. Along with the banking crisis, the danger of cash crisis has also arisen in the country. The Finance Minister has warned that if the debt ceiling is not increased by June 1, America will default for the first time in its history. Due to this, the fear of recession in the country has increased further. Not only America, many big countries of Europe are also living in fear of recession. These include France, Canada, Italy, Germany and France. Apart from this, the fear of recession has also increased in countries like Canada, South Africa, Japan, South Korea, Russia and Australia. The question is, what is the forecast for the recession in India?

According to World of Statistics, there is no possibility of recession in India. India is the only country among big countries where there is zero percent chance of recession. Recent figures confirm that India’s economy is gaining momentum. According to the IMF, this year also India’s economy will be the fastest growing economy in the world. All records of GST collection have been broken in April. Along with this, the manufacturing PMI has also reached the top of four months. Sales of most auto companies were strong in April. All these factors indicate that while the world is living in fear of recession, India’s economy is growing rapidly.

most prone to recession

The UK has the highest probability of recession in the world at 75 per cent. There has been a lot of turmoil in the UK economy recently. Inflation has reached its peak there. New Zealand is at number two in this list. There is a 70 percent chance of recession this year. America is at number seven with 65 percent apprehension. The possibility of a recession has increased manifold due to the apprehension of banking crisis and cash crunch in the country. America is the world’s largest economy and if it comes under the grip of recession, then its dire consequences can be seen all over the world.

Europe’s largest economies Germany, Italy and Canada have a 60 percent chance of recession. Similarly, it is expected to decline by 50 per cent in France, 45 per cent in South Africa, 40 per cent in Australia, 37.5 per cent in Russia, 35 per cent in Japan, 30 per cent in South Korea and 27.5 per cent in Mexico. In the case of Spain it is 25 per cent, 20 per cent in Switzerland and 15 per cent in Brazil. China, the world’s second largest economy, is expected to contract 12.5 percent this year, Saudi Arabia 5 percent and Indonesia 2 percent.

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