Faruk Hadzic, an economic analyst on social media, commented on the slowdown in economic activity in the world and the growing growth of prices and inflation that citizens are facing.
His publication is transmitted in its entirety:
”In October last year, in the author’s text, I announced the possibility of stagflation (stagnation + inflation). The first official data on GDP trends in the first quarter of the United States (U.S.), France, and Spain indicate that we are moving towards that, although it is still early to say with complete certainty that stagflation has already arrived. But, the slowdown and decline in economic activity with rising prices indicate that we are moving in that direction.
The U.S. economy fell -1.4 percent in the first quarter, well below analysts’ expectations (which forecasted growth of 1 percent).
This news is not good at all, because it is now to be expected that countries like the U.S. will have to cause an artificial recession, which will not be so mild, to tame inflation by raising interest rates. It is certain that this will have consequences for our country, especially if we know that Germany, which is our most important foreign trade partner, announced today that they had a growth of 0.2 percent in the first quarter,” told Hadzic on Friday.
E.Dz.
