India 0, China 12.5, America 65 and UK 75… India is giddy with this scoring, know what is the matter – recession probability forecast for different country this year
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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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