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Global economic growth hit by Omicron but supply tensions ease
The global economy slowed in December as rising COVID-19 case numbers dented the service sector expansion. The fresh virus wave comes at a time when the manufacturing sector is reporting an easing of supply constraints, which had helped raise production levels. The key risk to watch going into 2022 will be whether the Omicron variant further subdues growth and disrupts supply chains once again, just as the demand recovery from the pandemic fades away. Global economic growth slowed at the end of 2021 amid rising COVID-19 infection rates, though remained robust. The JPMorgan Global PMI™ (compiled by IHS Markit) fell ... (full story)