Iran Conflict Weighs on Global Economy and Business Growth
Business surveys indicate the Iran war is slowing global growth and raising costs. Energy price surges are impacting activity across the US, Europe, and Asia.
Global economic activity is beginning to show the strain of the ongoing conflict involving Iran, as business surveys indicate that surging energy prices and heightened uncertainty are dampening growth while driving inflation expectations higher. The initial findings from purchasing managers across major economies provide the most comprehensive look yet at the impact of the four-week conflict, which has indefinitely disrupted a significant portion of the world's energy supplies. The resulting jump in the prices of oil, gas, and related products presents a dual challenge for global leaders, fueling widespread inflation while simultaneously stunting economic expansion.
