ZANACO Exchange Rates Monthly Economic Report – March 2022
After picking up in February, growth in global economic activity eased during the month of March 2022 with the J.P Morgan composite PMI shedding 0.8 points to a 2-month low of 52.7 in show of the negative effects of the Russo-Ukrainian war. The war hit both domestic and export demand with the latter contracting at a 20-month high rate. Slowing demand notwithstanding, inflationary pressure continued to escalate while outstanding business orders accumulated at a quicker rate and thus forcing firms to enhance the pace of hiring labour. In view of the Russo-Ukrainian war occasioning a surge in commodity prices, hampering...