The surprise contraction may have been due to temporary factors
Headwinds mount, dragging down the outlook for the world's major economies
The organization expects the global economy to expand 3% in 2022, down from the 4.5% it predicted in December
Long-running decline needs policy attention, BMO says
The BoC is likely still on track for an oversized rate hike on Wednesday
Output turned negative in several major economies amid supply challenges
Inflation in the 19 countries that share the euro currency hit 7.5% in April
Statistics Canada reported the arts, entertainment and recreation sector added 8.4% to its GDP
Most economists expect a rebound this quarter as solid hiring and wage gains sustain growth
Pandemic proves GDP activity still closely tied to carbon emissions, Fitch says