Global economic growth could slow to 2.5% year-on-year in 2022 and 0.7% in 2023 due to the Russia-Ukraine war, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). The company has produced a downside scenario for the global economy assuming large spill-over effects from the Russia-Ukraine conflict through transmission channels and markets, some interruption of energy and commodity flows, an energy price shock causing recessions in the EU and US and pro-cyclical policy missteps exacerbating matters. Research director Peter Martin said: “Energy and commodity prices could fall as the global economic downturn takes hold ... (full story)