Barclays forecasts contraction in fourth quarter for major economies

(Reuters) - Global growth is heading for an "increasingly synchronous downturn", economists at Barclays said on Thursday, citing a deepening energy crisis in Europe, continued lockdowns in China and tightening financing conditions across economies. Barclays forecast a slowdown in global growth to 2.2% in 2023 versus 2.8% this year, and warned that it expects advanced economies to contract in the fourth quarter with zero growth next year. Global growth stood at 6.3% in 2021. Central banks globally have been rapidly tightening monetary policies, on the heels of the Russia-Ukraine conflict that e...